This is to inform you that the Board of Directors of the Company at their meeting held on Wednesday 28 May 2025 at the registered office situated at Office No. 412, 4th floor Shilp Zaveri, ....
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IFL Enterprises' board approved its audited standalone and consolidated results for the quarter and year ended 31 March 2025 on 28 May 2025. Revenue jumped dramatically to ₹7,107.17 Lacs (standalone) and ₹12,321.65 Lacs (consolidated) for FY25, up from ₹955.89 Lacs and ₹991.80 Lacs a year earlier. Net profit rose to ₹288.43 Lacs (standalone) and ₹299.20 Lacs (consolidated) from ₹100.01 Lacs and ₹84.52 Lacs, respectively, with EPS of ₹0.05. However, the statutory auditor, Parin Patwari & Co., issued a Disclaimer of Opinion on both sets of results, meaning no audit assurance could be provided. Key concerns flagged include unverified unsecured loans of ₹3,791 Lacs (standalone) / ₹10,292 Lacs (consolidated) carrying no interest, missing confirmations from parties, unreconciled GST balances, absence of MSME creditor classification, no proper records for fixed/intangible assets, sales invoices lacking E-Way bills, and no warehouse despite claimed inventory.
A disclaimer of opinion is a serious red flag — it means investors and lenders cannot rely on the reported numbers, even though they show strong revenue and profit growth. Despite the headline growth, the standalone business burned ₹2,723 Lacs in operating cash and the equity base was expanded nearly 3x via fresh share issuance, while core controls, documentation, and audit trail appear weak. Shareholders should treat the headline earnings with caution and expect heightened scrutiny, possible regulatory queries, and negative market reaction.