Submission of Financial Results for the Quarter ended 30th June 2025.
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JMJ Fintech Ltd (formerly Meenakshi Enterprises Limited), a small NBFC listed on BSE (Scrip Code: 538834), announced its Q1 FY26 results along with several board decisions. Total income from operations rose 37.5% YoY to ₹507.73 lakhs from ₹369.20 lakhs, but fell about 17% QoQ from ₹610.71 lakhs in Q4 FY25. Net profit came in at ₹114.43 lakhs, down 37% YoY from ₹182.26 lakhs but up 73% QoQ from a depressed Q4 base. Total expenses nearly tripled YoY, driven by higher employee costs, finance costs (up 104% YoY to ₹69.42 lakhs), and NPA provisions. The board approved a final dividend of ₹0.25 per share, re-appointment of an independent director, purchase of land for business purposes, and the AGM notice for 25 September 2025. The statutory auditor issued an unmodified limited review report. The internal auditor flagged that customer dues more than doubled during the quarter (from ₹2.49 cr to ₹5.33 cr).
Mixed picture for shareholders: strong YoY revenue growth is positive, but profitability is clearly under pressure from rising costs and NPA provisioning — a worrying trend for an NBFC. The QoQ PAT jump looks healthy but is largely a base effect from Q4 FY25's one-time RBI standard reserve of ₹189.11 lakhs. Doubling of customer dues and elevated finance costs are red flags worth monitoring, while the small dividend and land acquisition indicate modest management confidence.