Minolta Finance reports FY26 results with qualified auditor opinion
Awaiting price reaction for this filing.
Minolta Finance filed revised FY26 audited results with a qualified opinion. Total income rose to Rs 1,196.92 lakhs (from Rs 101.88 lakhs) on loan book growth. Total assets tripled to Rs 19,024.51 lakhs. However, company reported net loss of Rs 142.81 lakhs (EPS minus 0.14). Auditor flagged 4 issues: Rs 1.84 crore ECL provision reversal without cash recovery, Rs 5.81 crore unprovided interest expense, missing ownership proof for investments worth Rs 62.96 lakhs, and no prior RBI approval for management change in FY25. Post-adjustment, net worth falls to Rs 744.62 lakhs.
Multiple audit qualifications, growing losses, and missing RBI approval raise governance concerns; revised filing shows weaker financials. Negative for confidence.