Integrated Filing (Financial) for the quarter and year ended 31.03.2025.
PML · price
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Paul Merchants Ltd submitted its audited financial results for Q4 and full year ended March 31, 2025, along with segment results, balance sheet, and cash flow statement. The results cover both standalone and consolidated figures, including three wholly-owned subsidiaries (Paul Merchants Finance Pvt Ltd, PML Realtors Pvt Ltd, and Paul Infotech Pvt Ltd). The statutory auditor issued an Unmodified (clean) opinion on the results. Key developments include the approval of a slump sale of the Gold Loan Business (under subsidiary PMFPL) to L&T Finance Ltd, expected to complete in June 2025; the Gold Loan Business has been classified as discontinued operations under IND AS 105, and prior period figures have been restated for comparability. The company also recorded exceptional items totaling around ₹1.25 crore for FEMA-related penalties (₹1.13 crore penalty imposed by RBI under Section 11(3) of FEMA plus ₹11.40 lakh compounding amount) and a ₹70,000 RBI penalty for a Surat branch compliance issue. An Enforcement Directorate matter related to 1,138 overseas remittance transactions remains pending.
Clean audit opinion is a positive for shareholder confidence. However, the Gold Loan Business divestment (treated as discontinued operations) and ongoing FEMA/ED regulatory matters are significant overhangs. Shareholders should watch for the June 2025 completion of the L&T Finance deal and final disposal of the ED adjudication proceedings.