Outcome of Meeting of Board of Directors held on Friday, 30th May, 2025 at pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Awaiting price reaction for this filing.
Sunshine Capital Limited's board met on 30th May 2025 and approved audited financial results for Q4 and FY ended 31st March 2025. The company swung from a profit of ₹4,721.32 lakhs in FY24 to a loss of ₹4,811.80 lakhs in FY25, primarily driven by exceptional items of ₹4,810.21 lakhs. Total income for FY25 stood at ₹892.68 lakhs versus ₹7,422.01 lakhs in FY24. The board accepted the resignation of statutory auditor M/s H K Chhabra & Co (effective 7th May 2025) citing unavailability, and appointed M/s VRSK & Associates (FRN 011199N) as the new statutory auditor until the next AGM. During FY25, the company converted ₹67,000 lakhs of unsecured borrowings from various lenders into equity shares due to financial difficulties and non-payment of interest.
Shareholders should note the sharp swing to a full-year loss largely from one-time exceptional items rather than core operations, though revenue compression is also significant. The change of statutory auditor mid-year and auditor flags on Ind AS 109 compliance and audit trail gaps are governance concerns that may weigh on investor confidence.