Pursuant to Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('SEBI Listing Regulations'), we enclose hereto, ....
Awaiting price reaction for this filing.
Dhani Services Limited reported audited consolidated results for FY25 with total revenue from operations of Rs. 39,477 lakh, down about 6.6% from Rs. 42,285 lakh in FY24. Loss after tax narrowed sharply to Rs. 6,765 lakh from Rs. 37,394 lakh a year earlier, while the company swung to a small profit of Rs. 629 lakh in Q4 FY25 versus a loss of Rs. 8,501 lakh in Q4 FY24. However, total comprehensive loss for the year was Rs. 73,738 lakh, much wider than the Rs. 36,758 lakh loss in FY24, driven by an Rs. 84,540 lakh hit routed through Other Comprehensive Income (OCI) on impairment of loans, financial assets, and non-financial assets of subsidiaries and trusts. The auditor (Hem Sandeep & Co.) issued a Qualified Opinion, stating that the group's net loss after tax is understated by Rs. 67,220 lakh because impairments were wrongly booked to OCI instead of the Statement of Profit and Loss. Multiple subsidiaries, including Dhani Loans and Services, Indiabulls Nests, Transerv, and Juventus Estates, had similar qualifications. An Emphasis of Matter was also drawn to the ongoing composite scheme of amalgamation with Yaari Digital Integrated Services Limited, which is awaiting NCLT approval.
The qualified audit opinion and the fact that the true loss is Rs. 67,220 lakh larger than reported are red flags for shareholders, suggesting weaker underlying performance than headline numbers show. The pending amalgamation with Yaari Digital remains a key event to watch, and the stock may react negatively to the auditor's qualifications.