Integrated Financial for the Audited Financial Results for the Quarter and Year ended on March 31, 2025
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Mahan Industries Ltd, an Ahmedabad-based NBFC, submitted its audited financial results for Q4 and full year ended March 31, 2025, along with an Integrated Filing as required by SEBI's new framework. The statutory auditor SDPM & Co. issued an unmodified opinion on the results. During the quarter, the company allotted 9,00,000 equity shares to non-promoters via a preferential issue, raising Rs. 2.25 crore earmarked for working capital, NBFC capital adequacy compliance, and general purposes. Total assets grew to Rs. 873.63 lakhs from Rs. 658.67 lakhs, and total equity improved sharply to Rs. 516.09 lakhs from Rs. 304.77 lakhs, with other equity swinging from a negative Rs. 3,295.23 lakhs to a positive Rs. 66.09 lakhs. Borrowings remained flat at Rs. 346.66 lakhs.
Shareholders see a turnaround in net worth from deeply negative reserves to a positive position, reflecting either accumulated profits or a capital restructuring alongside the fresh equity infusion. However, operating cash flow remained negative at around Rs. 224 lakhs for the second straight year, suggesting core NBFC lending activities are still not generating cash, which is a watchpoint despite the cleaner balance sheet.