ENCLSOED HEREWITH INTEGRAETD FINANCIAL FOR YEAR EDNED 31/03/2025
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Sanchay Finvest Ltd reported a net loss of ₹31.95 lakh for FY25, more than doubling from a ₹14.25 lakh loss in FY24. Revenue from operations fell sharply from ₹58.87 lakh to ₹26.01 lakh, a decline of about 56%. The company's books show extraordinary items of ₹8.11 lakh (penalties and fines by exchanges) and a decree compensation provision of ₹13.20 lakh that dragged the bottom line further. The statutory auditor issued a qualified opinion, flagging non-provision for expected credit losses on certain current assets and investments as required under Ind AS 109. Multiple emphasis-of-matter issues were raised, including non-compliance with Sections 177(2) and 178 of the Companies Act (composition of Audit Committee and Nomination & Remuneration Committee), non-redemption and irregular dividend payment on ₹47 lakh worth of promoter-owned 12% preference shares that were due in October 2024, and lack of systems to reconcile balances with debtors and creditors. Notably, in a separate letter to BSE, the company claimed the auditor gave an 'unmodified opinion,' which contradicts the actual audit report.
Shareholders should note the company widened its loss, has serious governance and compliance lapses, and failed to redeem promoter preference shares on time, all of which raise red flags on financial health and management quality. The misleading claim of an unmodified opinion could attract regulatory scrutiny and dent investor confidence further.