Outcome of Board Meeting for approval of Audited Financial Results for the quarter and year ended on March 31, 2025
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Karnavati Finance Limited's board, at its meeting on May 29, 2025, approved the audited financial results for Q4 and FY ending March 31, 2025, along with the auditor's unmodified opinion. Total revenue from operations fell sharply to Rs. 157.26 lakhs in FY25 from Rs. 304.41 lakhs in FY24, a decline of about 48% year-on-year, mainly due to lower interest income. The company posted a net loss of Rs. 168.06 lakhs in FY25, slightly worse than the Rs. 166.81 lakhs loss in FY24, with losses driven mainly by NPA provisions of Rs. 174.52 lakhs. Q4 FY25 alone saw a loss of Rs. 88.13 lakhs versus Rs. 18.00 lakhs in Q4 FY24. Cash and equivalents dropped to just Rs. 1.96 lakhs, though operating cash flow turned positive at Rs. 548.01 lakhs helped by a reduction in the loan book and borrowings.
Shareholders should note continued losses, halved revenue, and an extremely thin cash balance, which signal ongoing financial stress despite the auditor's clean unmodified opinion. The shrinking loan book and lower borrowings suggest the company is winding down rather than growing, which is a negative signal for the stock.