Results- Financial Result for 30/06/2025
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Awaiting price reaction for this filing.
Manraj Housing Finance reported a loss of ₹34.06 lakhs for Q1 FY26 (quarter ended 30 June 2025), reversing the ₹45.61 lakhs profit posted in the same quarter last year. Total income collapsed to just ₹1.02 lakhs (vs ₹50.11 lakhs in Q1 FY25), while expenses surged to ₹35.08 lakhs. The auditor (Ratan Chandak & Co LLP) issued an Adverse Conclusion on the results, flagging four critical issues: (1) ~95% of the company's assets are advances to related parties who are under investigation by the Enforcement Directorate under PMLA and whose assets have been attached; (2) ~64.8% of liabilities are unsecured loans from related parties with conflicting financial interests; (3) default on bank borrowings of ₹687.03 lakhs since February 2020, with ₹603.37 lakhs of uncharged interest not provided for; and (4) serious doubt about the company's ability to continue as a going concern, as it has been non-operational for over 4 years and has negative net worth of ₹(61.05) lakhs.
This is a deeply negative filing for shareholders. An adverse auditor opinion, combined with negative net worth, defaulted bank loans, ED-attached related-party assets, and an explicit going-concern warning, signals severe financial distress. Stock price is likely to face heavy selling pressure, and the company faces a real risk of insolvency or regulatory action.