The Board of Directors in their meeting held today considered and approved the Appointment of Secretarial Auditors.
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Awaiting price reaction for this filing.
Prism Finance Ltd reported significantly widened losses for FY 2025-26 with net loss of Rs 354.35 lakh compared to Rs 101.75 lakh in the previous year. Total income declined to Rs 562.45 lakh from Rs 571.89 lakh, while total revenue from operations fell to Rs 526.33 lakh from Rs 571.86 lakh. The company's total equity eroded to Rs 1,858.28 lakh from Rs 2,212.63 lakh, with reserves declining sharply to Rs 1,208.25 lakh from Rs 1,562.60 lakh. Operating cash flow turned negative at Rs -65.24 lakh versus positive Rs 104.54 lakh in FY 2024-25. The company also appointed Kashyap R. Mehta & Partners as Secretarial Auditors to fill a casual vacancy caused by the resignation of Nishant Pandya & Associates. Statutory auditors H K Shah & Co issued an unmodified opinion on the financial statements.
The sharp deterioration in profitability, negative operating cash flow, and erosion of reserves signal significant financial stress. The loss more than tripled year-over-year while revenue declined, indicating deteriorating business conditions that could weigh on the stock.