Audited financial results for the quarter and year ended March 31, 2025 as approved by the Board of Directors at its meeting held on May 27, 2025 together with other documents are attached.
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Gujarat State Financial Corporation (GSFC) reported audited results for Q4 and FY25, posting a net loss of Rs. 12,534.01 lakh, wider than the Rs. 11,920.84 lakh loss in FY24. Total income for the year fell to Rs. 1,534.34 lakh from Rs. 1,772.72 lakh, while interest expenses remained elevated at Rs. 13,933.95 lakh. The company's net worth is completely eroded, with negative reserves of Rs. 3,15,431.29 lakh against a paid-up capital of Rs. 8,911.40 lakh. Total NPA stands at Rs. 39,802.25 lakh, representing 100% of advances. The statutory auditor issued a qualified opinion, flagging going concern doubts as the company has defaulted on repayment obligations due to liquidity problems — a qualification that has been repetitive for eight consecutive years. No dividend was declared for FY25.
This is a deeply distressed state-level financial institution with fully eroded net worth, 100% NPA, and recurring qualified audit opinions on going concern. The stock represents a non-operating legacy entity whose survival depends on government support, posing significant concerns for shareholders about recoverability and the long-term value of their holdings.