Outcome of Board Meeting held on 28th May 2025
SHARDUL · price
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Shardul Securities Ltd's board, at its May 28, 2025 meeting, approved the audited standalone and consolidated financial results for Q4 and FY ended March 31, 2025, with an unmodified (clean) opinion from statutory auditors Akkad Mehta & Co LLP. The company also appointed M/s Atul HMV & Associates LLP as internal auditor for FY26. On a standalone basis, total revenue fell sharply to Rs 4,250.82 lakh in FY25 from Rs 16,084.12 lakh in FY24 (~74% decline), driven by a steep drop in fair value gains on investments. Standalone profit after tax dropped to Rs 2,158.82 lakh from Rs 9,419.25 lakh, while the company reported a Q4 standalone net loss of Rs 6,481.04 lakh owing to mark-to-market losses. Operating cash flow turned negative at Rs (2,251) lakh standalone and Rs (3,694) lakh consolidated. Borrowings rose more than two-fold to Rs 2,316 lakh. EPS for prior periods was restated to reflect the 5:1 share subdivision (Rs 10 face value to Rs 2) effected in January 2025.
Shareholders should note a significant earnings decline driven primarily by mark-to-market valuation swings on the investment book rather than core operational issues. The Q4 standalone loss and negative operating cash flow may weigh on short-term sentiment, though the audit opinion is clean and the balance sheet remains strong with very low leverage and large investment reserves of over Rs 59,000 lakh (standalone).