ENCLSOED HEREWITH APPOINTMENT OF INTERNAL AUDITOR DISCLOURE
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Sanchay Finvest's board, at its May 29, 2025 meeting, approved audited financial results for Q4 and FY ended March 31, 2025, alongside appointing a new Secretarial Auditor (M/s Ramesh Chandra Mishra & Associates) for a 5-year term (FY26–FY30) and a new Internal Auditor (M/s S K B J P & Co.) for FY26. For FY25, revenue from operations fell sharply to Rs 26.01 lakh (from Rs 58.87 lakh in FY24), total expenses doubled to Rs 83.55 lakh, and the company reported a wider net loss of Rs 31.95 lakh versus Rs 14.25 lakh in FY24; EPS worsened to Rs (1.01). Total assets shrank to Rs 345.17 lakh from Rs 586.50 lakh, with equity also declining to Rs 289.96 lakh from Rs 557.62 lakh, largely due to redemption of preference shares. The statutory auditor issued a qualified opinion, flagging non-provision for expected credit losses, non-compliance with Section 177/178 (Audit Committee and Nomination & Remuneration Committee not properly constituted), unpaid preference share dividends, and weak balance confirmation systems.
Weak FY25 results with deeper losses and shrinking equity are negative for shareholders. The auditor's qualified opinion and highlighted governance non-compliances (Audit Committee, NRC, preference share defaults) raise red flags that may pressure the stock and invite regulatory scrutiny.