Audited Financial Results for Q4 and year ended March 31, 2025
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Sarvamangal Mercantile Company, which has no operating revenue, reported its full-year results for FY25 with other income rising to ₹252.60 lakhs from ₹132.66 lakhs in FY24. Profit before tax jumped to ₹188.89 lakhs (vs ₹46.81 lakhs), and profit after tax grew to ₹178.20 lakhs from ₹38.56 lakhs, translating to basic EPS of ₹71.57 (vs ₹15.49). However, other comprehensive income was deeply negative at ₹(2,283.57) lakhs due to fair-value markdowns on equity investments carried through OCI, pulling total comprehensive income to ₹(2,105.37) lakhs versus a positive ₹5,372.11 lakhs last year. Net cash from operating activities was negative at ₹(313.27) lakhs, while borrowings rose to ₹743.57 lakhs from ₹466.22 lakhs. The statutory auditor issued an unmodified (clean) opinion.
On the surface, headline earnings look strong, but the company's value lies almost entirely in equity investments whose mark-to-market has wiped out book value this year, leaving total comprehensive income in the red. Shareholders should watch the investment portfolio closely, as future NAV will swing with stock-market valuations.