Khandwala Securities Limited has informed the Exchange regarding Outcome of Board Meeting held on May 16, 2025.

Qualified audit opinionNet loss reportedRevenue declinedContingent liabilities increasedResults View source PDF Explain this filing

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Nifty Microcap 250market · in no size index; the smallest one is used+0.8%-0.7% vs market

Stockbroking & Allied peers, median of 33sector+1.6%-1.5% vs sector

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AI summary

The Board approved audited standalone and consolidated financial results for the quarter and year ended March 31, 2025. For FY25, total income rose sharply to Rs 1,512.96 lakhs from Rs 870.09 lakhs last year, but this was largely driven by a jump in 'Other Income' to Rs 559.03 lakhs (from Rs 18.39 lakhs). Revenue from operations grew modestly to Rs 953.93 lakhs (from Rs 851.70 lakhs, ~12% growth). The company slipped into a full-year loss after tax of Rs 79.92 lakhs compared to a profit of Rs 17.41 lakhs in FY24, with EPS at (Rs 0.52). Q4 FY25 was particularly weak with a standalone loss of Rs 205.32 lakhs and operating revenue of just Rs 118.13 lakhs versus Rs 282.54 lakhs in Q4 FY24. A large sundry debit balance write-off of Rs 407.73 lakhs weighed on results. The statutory auditor issued a qualified opinion on both standalone and consolidated results, flagging Rs 216.69 lakhs in application money for shares stuck for 23 years (under litigation at Bombay High Court) and Rs 350 lakhs in long-term deposits with uncertain recoverability. The Board also appointed Savina & Pooja as Internal Auditor for FY26, Bhuwnesh Bansal & Associates as Secretarial Auditor for 5 years (FY26–FY30), and approved continuation of Mr. Paresh Khandwala as MD beyond age 70, subject to shareholder approval.

Likely market impact

Negative for shareholders – the company swung to a full-year loss, Q4 saw a sharp revenue decline and large write-offs, and the auditor flagged a qualified opinion on Rs 566+ lakhs of doubtful recoverability. The stock may face pressure, though operating cash flow turned positive at Rs 402.52 lakhs versus a negative figure last year.