Please find enclosed outcome of Board Meeting held on 21st April, 2025
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Purple Finance's board approved audited financial results for FY25 alongside several governance and structural changes. Revenue from operations jumped to Rs 1,472 lakhs from Rs 442.24 lakhs in FY24, but expenses rose even faster to Rs 3,537.30 lakhs, widening the net loss to Rs 1,554.82 lakhs (vs Rs 761.27 lakhs loss in FY24). Total assets more than doubled to Rs 15,439.76 lakhs, driven mainly by a near-tripling of loans to Rs 8,998.21 lakhs. The board appointed new internal and secretarial auditors, re-appointed Mr. Rajeev Deoras as Executive Director for 3 years, approved alteration of Articles of Association, and ratified the ESOP 2022 scheme, all subject to shareholder approval. Statutory auditors Jogin Raval & Associates issued an unmodified opinion on the results.
Rapid loan book and revenue growth are positive signs for the NBFC, but widening losses show the company is still in heavy growth-investment mode and not yet profitable, which may weigh on the stock in the near term. Shareholder approvals will be sought at the upcoming general meeting for the director re-appointment, AOA changes, and ESOP ratification.