The Board of Directors in their meeting held today have approved the appointment of Kashyap R. Mehta & Partners, Company Secretaries, Ahmedabad as Secretarial Auditor of the company to ....
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Prism Finance Ltd reported a net loss of Rs 354.35 lakh for FY 2025-26, more than triple the loss of Rs 101.75 lakh in the previous year. Total income declined marginally to Rs 562.45 lakh from Rs 571.89 lakh, while total expenses increased to Rs 949.90 lakh from Rs 842.41 lakh. The company experienced significantly higher net loss on fair value changes (Rs 481.57 lakh vs Rs 375.25 lakh). EPS worsened to Rs -5.45 from Rs -1.57. Statutory auditors gave an unmodified (clean) opinion. The company also appointed Kashyap R. Mehta & Partners as the new secretarial auditor after the resignation of Nishant Pandya & Associates to fill a casual vacancy.
The tripling of losses is a significant concern for shareholders. Despite clean audit opinion, the deteriorating financial performance with increased expenses and higher fair value losses indicates operational challenges. The change in secretarial auditor may warrant monitoring.