ENCLSOED HEREWITH FINANCIAL RESULT FOR YEAR ENDED 31/03/2025
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Awaiting price reaction for this filing.
Sanchay Finvest Ltd reported widening losses for FY25, with revenue from operations falling sharply to Rs. 26.01 lakhs from Rs. 58.87 lakhs in FY24 (a drop of about 56%). Net loss for the year doubled to Rs. 31.95 lakhs versus Rs. 14.25 lakhs in the previous year. Total assets declined roughly 41% to Rs. 345.17 lakhs, mainly due to the redemption of Rs. 193 lakhs of preference shares and a fall in investments and cash. The statutory auditor, Jain Jagawat Kamdar & Co, issued a Qualified Opinion (despite the company's separate letter claiming an unmodified opinion), flagging that the company did not make required expected credit loss provisions on certain deposits and receivables. The auditor also added an Emphasis of Matter on non-compliance with Sections 177 and 178 of the Companies Act (Audit Committee and Nomination & Remuneration Committee not properly constituted), preference share dividend non-payment and non-redemption (12% Non-Cumulative Preference Shares due October 2024 were not redeemed), and weak balance confirmation/reconciliation systems.
This is a negative filing for shareholders — a qualified audit opinion, deepening losses, regulatory non-compliance, and unredeemed preference shares signal weak governance and financial health, which could weigh on the stock and pose regulatory risk.