Revised Board Outcome being sent to include Resignation letter from Statutory Auditors indicating intention to resign. This submission is as per query.lodr@ bseindia.com email dated ....
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Kumbhat Financial Services (a small Chennai-based NBFC) reported audited FY25 results showing a strong turnaround: profit of ₹135.85 lakh versus a loss of ₹179.22 lakh in FY24, with revenue from operations jumping to ₹203.61 lakh from ₹61.80 lakh. The loan book grew nearly 9x to ₹1,756.59 lakh, funded by new borrowings of ₹1,500 lakh. EPS turned positive at ₹2.86. Statutory auditor PKF Sridhar & Santhanam LLP resigned, citing that the firm's size and audit fees were no longer aligned with the company's scale; they will complete the Q1 FY26 limited review before stepping down. A new statutory auditor will be proposed at the next board meeting. The Board also appointed new secretarial and internal auditors, decided not to declare a dividend, and deferred the AGM date.
The financial turnaround is a clear positive, but the midterm exit of a Big-affiliated auditor (PKF) about 9 months into a 5-year term—though attributed to fee/size mismatch rather than any dispute—may raise short-term governance concerns. Watch for the new statutory auditor appointment and AGM date; shareholders should also note the sharp rise in borrowings alongside loan book growth.