Pursuant to Regulation 33 of SEBI (LODR) Regulation, 2015, we write to inform you that at the meeting held on 08.05.2025 board has approved the financial results for the quarter and year ....
Awaiting price reaction for this filing.
The company reported a standalone net loss of Rs. 354.93 lakhs for Q4 FY25 and Rs. 1,383.18 lakhs for the full year FY25, wider than the Rs. 1,150.39 lakhs loss in FY24. Revenue from operations is zero, with only Rs. 65.81 lakhs of other income for the year. Finance costs remain hefty at Rs. 1,329.03 lakhs. The company's net worth is deeply negative at Rs. 67,116.50 lakhs (standalone) against total assets of just Rs. 496.16 lakhs and total liabilities of Rs. 67,612.65 lakhs. The auditor issued a qualified opinion, flagging that the RBI cancelled the company's NBFC licence in 2005 (appeal pending), there is non-provision of interest of Rs. 2,044 crores on bank/IFC dues in anticipation of a one-time settlement, non-confirmation of balances by banks where accounts are NPAs, ongoing SFIO cases, and that the company is not capable of meeting its liabilities as they fall due. EPS stood at Rs. -1.71 for FY25.
This is a deeply distressed small NBFC with negative net worth, zero operating revenue, mounting losses, NBFC licence cancelled, and auditor's qualified opinion with a material going-concern uncertainty. The stock is highly risky and the equity is essentially worthless on a balance-sheet basis; shareholders face significant risk of dilution or total loss if the pending licence appeal fails or settlements with lenders do not materialise.