We, hereby submit the 33rd Annual Report for the financial year 2024-25, Please take the same on your records.
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Indo-City Infotech Limited, an RBI-registered non-deposit taking NBFC, filed its 33rd Annual Report for FY 2024-25. Total income fell sharply to about Rs. 82.37 lakh from Rs. 2.10 crore in the previous year, a drop of roughly 61%. The company swung to a loss before tax of Rs. 1.25 crore (from a profit of Rs. 46 lakh last year) and reported a loss after tax of Rs. 1.26 crore, versus a profit of Rs. 39 lakh in FY23-24. No dividend was recommended to conserve resources. The statutory audit report is unmodified (no qualifications). The company also plans to change its name to 'Always First Finance Limited' or 'Indo-City Finance Limited' to better reflect its finance business. Statutory auditor is being rotated from ASAT & Associates to M/s MARC & Co. at the upcoming AGM on September 30, 2025.
Shareholders should note the sharp revenue decline and the swing to a loss, with no dividend for the year — this is a clearly negative earnings update. The proposed name change signals a strategic shift towards core NBFC activities, which could be watched as a potential pivot point for future performance.