Audited Financial Results for the year ended on March 31, 2025 along with Auditors'' Report thereon
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Prism Finance Ltd reported a net loss of ₹101.75 lakh for FY25, a sharp reversal from a profit of ₹516.14 lakh in FY24. Total revenue from operations fell about 38% to ₹571.86 lakh from ₹915.93 lakh, while total expenses surged nearly 5x to ₹842.41 lakh, driven by net loss on fair value changes of ₹375.25 lakh and net loss on derecognition of financial instruments of ₹321.07 lakh. The company swung from operating cash inflow of ₹266.82 lakh to outflow of ₹645.98 lakh. Cash and cash equivalents dropped sharply to just ₹2.38 lakh from ₹34.85 lakh. The statutory auditor (H K Shah & Co.) issued a Qualified Opinion because the company has not provided for impairment on its ₹100 lakh investment in BVM Finance Pvt. Ltd., whose net worth is negative and which is under CIRP. If adjusted, the loss would deepen to ₹201.75 lakh and net worth would fall to ₹2,112.63 lakh.
Shareholders face a weak year with a swing to loss, sharply negative operating cash flow, and a repeat audit qualification on a dubious investment. The auditor-flagged issue means reported losses are understated, which is a negative signal for the stock and raises concerns about asset quality.