Outcome of Board Meeting
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The board of Jagsonpal Finance & Leasing (listed as Jagsonpal Services Ltd, scrip code 530601) met on May 26, 2025 and approved the audited financial results for Q4 and FY ended March 31, 2025 with an unmodified (unqualified) opinion from statutory auditor M/s Jain Vinay & Associates. The company reported a sharply widened loss for FY25 of Rs 71.25 lakhs versus Rs 14.13 lakhs in FY24, driven by a jump in total expenses to Rs 71.37 lakhs from Rs 14.23 lakhs, even as total income was negligible at Rs 0.65 lakhs. Operating cash flow turned negative at Rs (85.61) lakhs compared to a positive Rs 65.72 lakhs last year. During the year the company raised about Rs 15.88 crore through an equity share issue, which lifted cash and bank balances to Rs 15.83 crore and total equity to Rs 16.13 crore. The board also approved the 34th AGM notice, reappointed the statutory auditor for 5 years (FY26–FY30), appointed new internal and secretarial auditors, and revised several governance policies.
Losses have deepened materially and cash burn from operations has turned negative, which is a concern for shareholders. However, the sizeable equity infusion during the year has strengthened the balance sheet and provided liquidity cushion, while a clean audit opinion removes near-term governance worries.