Submission of 41st Annual Report of the company
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Karnavati Finance Ltd submitted its 41st Annual Report for FY 2024-25 to BSE. The company's total revenue fell sharply to Rs. 157.26 lakhs from Rs. 304.41 lakhs in the previous year, a decline of about 48.34%. The company posted a loss after tax of Rs. 168.06 lakhs, slightly wider than the Rs. 166.81 lakhs loss in FY 2023-24. Finance costs remained the biggest burden at Rs. 115.20 lakhs. The 41st AGM is scheduled for September 30, 2025 via video conferencing, where shareholders will consider a proposal to raise the company's borrowing limit from Rs. 50 crores to Rs. 250 crores under Section 180(1)(c) of the Companies Act. They will also vote on appointing M/s. Jitendra Parmar and Associates as Secretarial Auditor for five years (FY 2025-26 to FY 2029-30) and the re-appointment of Whole-Time Director Mr. Raman Morzaria, who holds about 2.94 crore equity shares.
The sharp revenue drop and continued losses signal weak business momentum, which is negative for shareholders. The proposed jump in borrowing limit from Rs. 50 crore to Rs. 250 crore is a major red flag for a loss-making small finance company, suggesting possible plans for significant debt-led expansion or refinancing.