outcome of board meeting dated 30/05/2025 wherein audited financial results as on 31/03/2025 was adopted
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Jainco Projects, an RBI-registered NBFC based in Kolkata, approved its audited financial results for the year ended March 2025 at a board meeting held on May 30, 2025. Revenue from operations more than tripled to ₹73.30 lakhs from ₹22.08 lakhs in FY24, while profit after tax rose sharply to ₹0.73 lakhs from ₹0.08 lakhs. However, finance costs surged from nil in FY24 to ₹52.79 lakhs in FY25, and the company reported a deeply negative operating cash flow of ₹(1,243.95) lakhs, driven largely by a ₹1,065.85 lakh increase in loans. The debt-to-equity ratio stands at 1.91 times, with total debt at 63.94% of total assets. The statutory auditor issued an unmodified opinion but flagged an Emphasis of Matter on unconfirmed balances for receivables, loans, advances and borrowings, and the notes highlight multiple creditor disputes, sub-judice matters and that no provisions have been made for contingent liabilities.
While headline revenue and profit growth look strong, the very small absolute profit, surging finance costs, deeply negative operating cash flow, high leverage, and auditor emphasis on unconfirmed balances and pending litigation suggest underlying stress. Shareholders should treat this as a mixed result with significant red flags on financial quality and sustainability.