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 following: ....
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Haryana Financial Corporation (HFC) announced its audited annual results for FY 2024-25 at a board meeting held on 21.05.2025. Total income collapsed to Rs. 5.76 crore from Rs. 31.56 crore in FY24 (an ~82% year-on-year decline), while revenue from operations fell to Rs. 0.42 crore from Rs. 1.37 crore. The corporation reported a marginal net loss of approximately Rs. 1.04 lakh in FY25 versus a loss of Rs. 2.54 crore in FY24, with accumulated losses of Rs. 59.89 crore on the balance sheet. The auditor flagged a 'Material Uncertainty Related to Going Concern,' noting that the State Government has already recommended winding up/liquidation under Section 45 of the SFCs Act, 1951, and has appointed HSIIDC's Managing Director as the Nodal Officer. The State Govt (holding 99.36% as promoter) has also initiated delisting of shares from BSE, with a Merchant Banker already appointed. The auditor also drew attention to contingent liabilities of Rs. 1,357.22 lakh from ex-employee/pensioner claims and Income Tax demands of Rs. 58.97 crore that are sub-judice.
This is essentially a corporate liquidation and delisting announcement for shareholders. Retail investors should expect minimal exit value given the corporation's accumulated losses, the absence of fresh lending activity since 2010, and the ongoing valuation process for delisting. The share is unlikely to be a going-concern investment and the eventual delisting price will be determined by the Merchant Banker's valuation of essentially residual assets.