Outcome of Board Meeting
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Kovalam Investment & Trading Company, an NBFC, announced audited FY25 results via board meeting held on May 23, 2025. Total income from operations fell sharply to about Rs 172 lakhs from Rs 361 lakhs in FY24, a drop of roughly 52%. Profit before tax declined to Rs 198 lakhs (from Rs 349 lakhs) and profit after tax is around Rs 164 lakhs vs Rs 305 lakhs in FY24, a fall of about 46%. Operating cash flow swung from a positive Rs 85.5 lakhs to a negative Rs 94.9 lakhs, while total assets shrank from Rs 8,939 lakhs to Rs 7,510 lakhs, mainly due to lower investments and loans. The statutory auditor (M/s YAPL & Co.) issued an unmodified opinion and M/s Piyush Singla & Associates was re-appointed as internal auditor for FY26.
Sharp revenue and profit contraction along with negative operating cash flow and shrinking asset base point to weakening business momentum, which is negative for shareholders. However, an unmodified auditor opinion and re-appointment of internal auditor suggest no governance red flags.