To approve the Audited Financial statements. To take note of unmodified Audit Report To condiser Resignation of Statutory Auditor
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The Board of Kumbhat Financial Services Ltd met on 23 May 2025 and approved the audited financial results for the quarter and year ended 31 March 2025. The company swung to a profit of ₹135.85 lakhs in FY25 compared to a loss of ₹179.22 lakhs in FY24, with total revenue rising sharply to ₹203.61 lakhs from ₹61.80 lakhs. Total assets grew nearly 8x to ₹2,175.57 lakhs, largely driven by a jump in loans to ₹1,756.59 lakhs funded by new borrowings of ₹1,500 lakhs. The Board noted the unmodified audit report and appointed M/s Mundhara & Company as secretarial auditors and M/s R V J & Company as internal auditors for FY 2025-26. Statutory auditor PKF Sridhar & Santhanam LLP expressed intent to resign and will continue only until completion of Q1 FY26 review. No dividend was declared.
Sharp swing to profitability and major loan book expansion signal a turnaround year, but the auditor resignation mid-tenure is a governance red flag that may concern shareholders. With negative other equity barely recovered and no dividend, investors should watch for the appointment of a new statutory auditor at the next board meeting.