Outcome of the Board Meeting.
Price
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The board approved audited financial results for FY ended 31 March 2025, reporting a net loss of Rs. 29.30 lakhs compared to a profit of Rs. 7.81 lakhs in FY24. Total income fell sharply to Rs. 19.02 lakhs from Rs. 47.58 lakhs, a decline of about 60% year-on-year. The company's reserves stand at a negative Rs. 715.62 lakhs, indicating fully eroded shareholder equity, and operating cash flow was deeply negative at Rs. (210.68) lakhs. To strengthen funds, the company raised Rs. 324 lakhs in March 2025 by allotting 18 lakh shares on a preferential basis to promoter group and a non-promoter at Rs. 18 per share, partly to meet RBI NBFC net owned fund norms. The board also re-appointed the internal auditor for FY26 and appointed a new secretarial auditor for five years. The statutory auditor issued an unmodified (clean) opinion on the results.
Loss-making year, collapsing income, negative reserves, and heavy cash burn are serious red flags for shareholders. The recent equity infusion provides short-term liquidity and RBI compliance relief, but investors should watch closely for a turnaround in earnings and asset quality.