This is to inform that the Board of Directors of the Haryana Financial Corporation (HFC) at its meeting held today i.e. on 21.05.2025 have inter-alia considered and approved the followings:- i) ....
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The Board of Directors approved the audited annual financial results for FY 2024-25 along with the audit report. Total revenue collapsed sharply from about Rs. 31.56 crore last year to Rs. 5.76 crore, an approximate 82% year-on-year decline. The Corporation slipped into a small net loss of Rs. 1.04 lakh, compared to a net profit of Rs. 2.84 crore in the previous year, with accumulated losses now standing at Rs. 59.89 crore. The auditor explicitly flagged a material uncertainty related to going concern, noting that the Corporation has recommended winding up under Section 45 of the SFCs Act, 1951 and the State Government has decided to delist its shares from BSE. Significant contingent liabilities of about Rs. 13.57 crore (from ex-employee/pensioner claims) and Rs. 0.89 crore (from loanees/auction purchasers) were disclosed, and the auditor included an emphasis of matter on these along with a Rs. 2.21 crore discrepancy in share capital figures.
This is effectively a wind-down situation — the Corporation has not sanctioned fresh loans since May 2010, and the State Government has initiated delisting of shares from BSE through an appointed Merchant Banker. Retail shareholders face significant uncertainty around exit price and timing, and should treat this stock as a special-situation liquidation case rather than a going business.