Dear Sir, Pursuant to Regulation 30 and 33 of SEBI (Listing obligations and Disclosure Requirements), 2015, We wish to inform that the Board of Directors of the Company at its meeting ....
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Neelkanth Rockminerals reported zero revenue from operations for FY25, with total income of Rs. 66.43 lakhs coming entirely from other income (mainly interest on loans). Profit after tax fell to Rs. 19.55 lakhs from Rs. 24.03 lakhs in FY24, while EPS dropped to Rs. 0.39 from Rs. 0.48. The company gave out Rs. 757.37 lakhs as loans and advances, and earned most of its income from interest, which the auditor flagged as meeting NBFC criteria without RBI registration. Management says it will discontinue such lending activities and take corrective action next year. Cash from operations was negative at Rs. -68.25 lakhs, while overall cash position improved to Rs. 42.40 lakhs supported by interest receipts and investment sales.
The company has no core operational business and is essentially functioning like an unregistered NBFC, which is a serious regulatory risk flagged by the auditor. Shareholders should watch closely whether management actually winds down the lending activity and pivots to a real operating business, as the current model is unsustainable and exposes the company to RBI action.