Integrated Filing (Financial)
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Morgan Ventures Limited, a Delhi-based NBFC, filed audited standalone financial results for FY25 with an unmodified (clean) audit opinion from M/s D H A & Co. Total income rose sharply to ₹4,670.28 lakhs from ₹2,300.66 lakhs in FY24, more than doubling, driven mainly by fair value gains on investments (₹3,595.94 lakhs) and investment income (₹935.17 lakhs). Net profit jumped to ₹2,561.83 lakhs from ₹994.52 lakhs, lifting EPS to ₹25.88 from ₹10.05, while the debt-equity ratio improved to 1.92 from 2.45. The auditor flagged four emphasis-of-matter items: (1) a legal dispute over land parcels in Chikalthana, Aurangabad valued at ₹20.02 crore where MIDC issued a revocation notice in August 2024, (2) a related-party business advance exceeding 10% of turnover made without prior shareholder approval as required under SEBI Regulation 23(4), (3) amendment of the company's main object clause to add manufacturing activities, and (4) reclassification of certain inventory as leasehold land under fixed assets. Operating cash flow turned negative at ₹(189.09) lakhs versus a positive ₹96.89 lakhs in FY24.
Earnings growth and balance sheet improvement are clearly positive, but the undisclosed/unapproved related-party transaction is a governance red flag, and the ongoing Aurangabad land dispute exposes the company to a potential asset-value hit of around ₹20 crore. Retail investors should balance the strong profit surge against these compliance and asset-risk concerns flagged by the auditors.