Annual Report under regulation 34(1) of SEBI LODR, 2015 attached herewith for F.R 2024-25.
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Ontic Finserve Ltd submitted its Annual Report for FY 2024-25, showing a sharp turnaround in financial performance. Gross income jumped from Rs. 16.17 lakh to Rs. 202.23 lakh year-on-year. The company moved from a net loss of Rs. 274.63 lakh in FY24 to a net profit of Rs. 131.34 lakh in FY25, with a tax provision of Rs. 48.08 lakh. No dividend has been recommended. Statutory auditor K M Chauhan & Associates resigned on 14 August 2025, and M/s Nirav S Shah & Co has been proposed as the new statutory auditor for a 5-year term. The company secretary changed during the year, and two additional executive directors were appointed in December 2024. The secretarial auditor flagged compliance gaps including absence of internal auditor and managing director, missing newspaper advertisement for June 2024 results, and non-compliance with director retirement provisions.
The dramatic swing from heavy loss to profitability is a positive signal for shareholders, though the small absolute income base (about Rs. 2 crore) and the auditor resignation just before the AGM may raise governance concerns. The mid-year auditor change and multiple secretarial compliance lapses are red flags worth monitoring.