Outcome of the Board Meeting
GYFTR · price
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LKP Finance Limited announced its audited financial results for Q4 and FY25, with the auditor MGB & Co LLP issuing a qualified opinion (4th consecutive year). The qualification relates to Rs. 3,596.65 lakhs of unconfirmed borrowings and a pending garnishee order of Rs. 2,500 lakhs from Kingfisher Finvest, currently before DRAT Chennai. Standalone FY25 PAT dropped sharply to Rs. 1,032.34 lakhs from Rs. 5,505.51 lakhs, while total income fell 91% to Rs. 742.04 lakhs mainly due to negative fair value changes. The company also reported a deeply negative operating cash flow of Rs. 10,718 lakhs and recorded exceptional gains of Rs. 1,426 lakhs from the sale of subsidiary Bond Street Capital and assignment of receivables. Change of control occurred with acquirers Hindon Mercantile and Mr. Kapil Garg holding 51.26% stake after RBI approval.
Shareholders should note the repeated qualified audit opinion, a steep fall in core profitability, and a large negative operating cash flow, all of which point to ongoing stress. The change of control and sale of subsidiary may bring restructuring, but the pending Kingfisher-related legal dispute remains a material overhang on the stock.