Revised Integrated filing (Financial) for the Quarter and Year ended on 31st March, 2025
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Shyamkamal Investments Ltd, an RBI-registered NBFC dealing in share trading and investments, has submitted a revised integrated filing for FY25, with the revision limited to presenting the Statement of Impact of Audit Qualification on a yearly basis rather than quarterly. The company swung from a loss of Rs 21.06 lakhs in FY24 to a net profit of Rs 50.32 lakhs in FY25, with total income jumping from Rs 1.08 lakhs to Rs 186.32 lakhs. Total assets nearly quadrupled from Rs 425.20 lakhs to Rs 1,964.69 lakhs, but this was largely funded by debt — debt-equity ratio shot up from 0.09 to 1.61. The auditor (Mukeshkumar Jain & Co.) issued a Qualified Opinion citing two recurring issues: lack of audit trail in the accounting software and an unconfirmed Rs 80 lakh receivable from a joint-venture partner. If the qualification were adjusted, the company would show a loss of Rs 29.65 lakhs instead of a profit. The company also raised Rs 3.36 crore via preferential issue in September 2024, fully used as per stated objects, and disclosed multiple related-party transactions with entities having common directors.
Mixed picture for shareholders — headline turnaround to profitability looks strong, but the auditor's qualified opinion and the fact that adjusted numbers would show a loss raise red flags. Sharp rise in leverage (debt-equity from 0.09 to 1.61) and substantial related-party transactions with common-director entities warrant close scrutiny by investors.