IIFL Finance Limited has informed the Exchange regarding Change in Auditors of the company.
IIFL · price
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IIFL Finance reported FY25 audited results with consolidated net profit of Rs 578.16 crore, sharply lower than Rs 1,974.22 crore in FY24, primarily due to a Rs 586.50 crore exceptional provision on AIF-related security receipts. Q4 FY25 net profit stood at Rs 251.36 crore versus Rs 430.63 crore in Q4 FY24, with full-year basic EPS of Rs 9.07. The board approved an enabling resolution to raise up to Rs 10,000 crore via non-convertible securities on a private placement basis in FY26, subject to shareholder approval. New secretarial auditor M/s Nilesh Shah and Associates was appointed for five years, while Chairman Arun Kumar Purwar will not seek re-appointment at the upcoming AGM citing personal commitments. Additional disclosures flagged Rs 9.88 crore of excess MD remuneration needing shareholder approval and an ongoing Income Tax search from January 2025 with no outcome yet communicated.
The steep profit decline and large exceptional provisioning may weigh on investor sentiment, though asset quality remained stable with GNPA at 2.23%. Multiple governance-related disclosures (MD excess pay, Chairman exit, pending tax search outcome) could draw scrutiny from shareholders and potentially create short-term volatility.