The board of directors of the company in its meeting held today approved to shift the registered office of the Company from the state of West Bengal to the state of Tamil Nadu subject to ....
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Richfield Financial Services, a Kolkata-based NBFC, announced multiple board-approved decisions on May 28, 2025. The board approved audited FY25 results showing total income of Rs. 503.08 lakhs (up sharply from Rs. 197.26 lakhs in FY24), but profit after tax fell to Rs. 12.54 lakhs from Rs. 64.78 lakhs, with EPS dropping to Rs. 0.17 from Rs. 1.73. Total assets tripled to Rs. 3,510 lakhs, driven largely by loans growing to Rs. 2,835 lakhs and subordinated liabilities rising to Rs. 2,135 lakhs. The board also approved the issue of subordinated debts for FY26, appointed Lakshmmi Subramanian & Associates as secretarial auditor and Mr. Jomy Joseph as internal auditor, and proposed shifting the registered office from West Bengal to Tamil Nadu (subject to shareholder and statutory approvals). Auditors issued an unmodified opinion on the financials.
Mixed signal for shareholders — strong revenue and asset growth but a sharp drop in profitability suggests margin pressure or higher provisioning. The proposed office relocation to Tamil Nadu, where the company's correspondence address already sits (Kochi/Vytilla area), may signal cost or operational restructuring, while the subordinated debt issue will further strengthen the lending book but increase leverage.