Annual Report for the Financial year 2024-25
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Richfield Financial Services Ltd has submitted its Annual Report for FY 2024-25 ahead of the 33rd AGM scheduled for September 25, 2025 via video conferencing. Revenue from operations more than doubled to Rs. 437.33 lakh from Rs. 183.08 lakh, but net profit fell sharply to Rs. 12.54 lakh from Rs. 64.78 lakh as total expenses surged to Rs. 489.58 lakh. Total Assets Under Management grew over three-fold to Rs. 2,835.30 lakh, driven by new gold loan (Rs. 773.18 lakh), microfinance (Rs. 700.24 lakh) and personal loan (Rs. 1,127.50 lakh) segments. The company issued bonus shares in 1:1 ratio (37.5 lakh shares) in February 2025, doubling paid-up capital to Rs. 7.50 crore, and raised Rs. 10 crore via secured NCDs on private placement. No final dividend has been recommended, with the board retaining earnings to fund expansion, including a new RBI microfinance licence application.
The sharp drop in net profit despite strong revenue growth may concern short-term shareholders, though the bonus issue and three-fold AUM expansion signal aggressive growth focus. Shareholders should note book closure from September 19-25, 2025 for the AGM and e-voting window from September 22-24, 2025.