Financial Results for the quarter and year ended on March 31, 2025
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Karnavati Finance Limited reported audited results for FY25 with total revenue from operations falling sharply to Rs. 157.26 lakhs from Rs. 304.41 lakhs in FY24, a decline of roughly 48%, driven by a steep drop in interest income (Rs. 155.35 lakhs vs Rs. 304.10 lakhs). The company posted a net loss of Rs. 168.06 lakhs for FY25, almost flat compared to a loss of Rs. 166.81 lakhs in FY24, while Q4 FY25 alone saw a loss of Rs. 88.13 lakhs. NPA provisions remained heavy at Rs. 174.52 lakhs (vs Rs. 209.43 lakhs last year), and reserves turned nearly negligible at Rs. 17.74 lakhs, down from Rs. 185.77 lakhs, reflecting sustained erosion of book value. On the positive side, borrowings were reduced from Rs. 1,554.61 lakhs to Rs. 1,109.46 lakhs, and operating cash flow turned positive at Rs. 548.01 lakhs versus a negative Rs. 279.43 lakhs a year ago. The statutory auditor (B.B. Gusani & Associates) issued an unmodified (clean) opinion on the results.
Shareholders face another year of losses, vanishing reserves, and shrinking revenue, which is bearish for the stock, though lower debt and positive operating cash flow suggest management is deleveraging and improving liquidity. Investors should watch whether the company can stabilise its lending book and return to profitability, as continued losses could further weaken the equity base.