Please Find Enclosed Herewith Outcome of the Board Meeting For Your Records
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RLF Ltd's board approved audited standalone financial results for Q4 and FY ended March 31, 2025, with an unmodified opinion from auditor M/s R K Bhalla & Co. Revenue from operations fell to Rs. 186.36 lakhs in FY25 from Rs. 236.53 lakhs in FY24, and the company slipped into a loss with PAT of Rs. (22.82) lakhs versus a profit of Rs. 4.46 lakhs last year. The auditor flagged multiple emphasis of matter issues, notably that current liabilities exceed current assets by Rs. 117.06 lakhs, USD 31,977.88 in FEMA-overdue receivables, interest not booked on group company loans/borrowings, and delays in statutory payments. Key board changes include appointment of Karm Sawhney as Independent Director, Ashish Khanna's resignation as CFO and re-designation from Executive to Non-Executive Director, and Managing Director Aditya Khanna additionally taking charge as CFO. The board also approved issuing notices to shareholders who haven't paid call money on 3,45,723 partly paid-up IPO shares, with potential forfeiture.
Weak FY25 performance with revenue decline and a swing to loss is concerning; auditor emphasis on current liabilities exceeding current assets and recovery initiatives flags going concern risks. Governance attention warranted as Managing Director Aditya Khanna now also serves as CFO, and his relative Ashish Khanna remains on the board. Shareholders with unpaid call money on partly paid-up shares risk having those shares forfeited.