Audited Financial Results for the quarter and year ended March 31, 2025
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Smart Finsec Ltd reported audited FY25 results with total income from operations falling sharply to Rs. 236.77 lakhs from Rs. 2,507.10 lakhs in FY24, mainly because the previous year included a one-time 'Sale of Shares' of Rs. 2,485.47 lakhs. Net profit after tax declined to Rs. 117.39 lakhs from Rs. 236.52 lakhs, and EPS nearly halved to Rs. 0.39 from Rs. 0.79. Core income lines show NBFC interest income at Rs. 77.18 lakhs (vs Rs. 60.40 lakhs in FY24) and rental income at Rs. 28.97 lakhs (vs Rs. 24.80 lakhs). The company operates in two segments—Real Estate and NBFC—with NBFC contributing Rs. 207.80 lakhs of segment revenue. Statutory auditor A. Mohan & Co. issued an unmodified (clean) opinion on the results.
The steep year-on-year decline looks alarming but is largely driven by last year's one-off share sale; underlying NBFC and rental income actually grew modestly. Profitability dip on a normalized basis may cap near-term upside for the stock, though the clean audit report and growing reserves (Rs. 1,268.39 lakhs vs Rs. 1,150.96 lakhs) offer some comfort.