Attached herewith Audited Financial Results for year ended 31st March, 2026
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Mangalam Industrial Finance Ltd reported a net loss of Rs. 100.28 lakhs for FY26, a sharp reversal from profit of Rs. 123.19 lakhs in FY25. Total income stood at Rs. 2,681.34 lakhs, including interest income of Rs. 421.76 lakhs and significant fees & commission income of Rs. 2,253.18 lakhs. The auditors issued a QUALIFIED OPINION citing inability to verify major related party expenditures due to insufficient documentation. Impairment on financial instruments surged to Rs. 408.16 lakhs (vs Rs. 4.97 lakhs), indicating deteriorating asset quality. Operating cash flow turned sharply negative at Rs. 4,567.95 lakhs. The company also disbursed an additional Rs. 11.44 crore loan to a related party despite past delays in EMI servicing. Total assets grew to Rs. 7,590.88 lakhs, largely driven by loan book expansion to Rs. 6,242.01 lakhs.
The qualified audit opinion, significant related party transactions, and surge in loan loss provisions raise governance red flags. Shareholders should monitor asset quality closely as the company shifted from profit to loss while booking substantial impairment charges.