Pursuant to Reg 33 of the SEBI (LODR) Regulation, 2015, the board of directors of the company in their meeting helf on 28.05.2025 have approved the Audited financial statements alongwith ....
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The board of Rapid Investments Ltd approved the audited financial results for Q4 and FY ended 31 March 2025. Profit before tax for FY25 stood at Rs. 47.41 lakhs versus Rs. 24.98 lakhs in FY24, while net profit came in at Rs. 35.66 lakhs versus Rs. 20.38 lakhs, a jump of roughly 75%. For Q4 alone, PAT was Rs. 22.94 lakhs versus Rs. 8.10 lakhs a year earlier. The statutory auditor M/s Valawat & Associates issued an unmodified (clean) opinion on the results. The auditor also drew attention via an Emphasis of Matter to Note 3, where Rs. 75,444 of interest overdue on NPA accounts was reversed and Rs. 16.21 lakhs of principal from Veritas Buildtech Pvt Ltd was shown as recoverable with no provision made. The company raised Rs. 839.74 lakhs through a Rights Issue completed on 22 October 2024 and has deployed the funds as per the objects stated in the offer document. Total equity expanded sharply from Rs. 237.36 lakhs to Rs. 1,112.77 lakhs, largely reflecting the rights issue proceeds now sitting in investments, which rose from Rs. 50.67 lakhs to Rs. 1,002.80 lakhs.
PAT nearly doubled on a YoY basis, helped by fair value gains and the freshly raised rights capital being deployed. The Veritas Buildtech recoverable is small relative to the balance sheet but the lack of any provisioning is worth flagging — shareholders should watch recovery from this counterparty. Overall, results are positive but the spike in earnings is partly driven by mark-to-market gains rather than core interest income, which actually declined year-on-year.