Audited Financial Results for the quarter and year ended March 31, 2026
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Smart Finsec Ltd reported total income of Rs. 196.72 lakh for FY2026, down from Rs. 236.77 lakh in FY2025 — a ~17% revenue decline driven mainly by a drop in F&O/Jobbing income (Rs. 67.74L vs Rs. 96.38L) and lower fair value gains. PAT fell to Rs. 97.67 lakh from Rs. 117.39 lakh, a ~17% decline. The company operates in two segments: NBFC (larger) and Real Estate. Despite reporting a profit, operating cash flow turned sharply negative at Rs. -54.08 lakh (vs positive Rs. 267.32 lakh in FY2025), mainly due to a large increase in loans and other assets (Rs. 138.64 lakh outflow). Cash and cash equivalents fell from Rs. 92.20 lakh to Rs. 26.24 lakh. The auditors issued an unmodified opinion, indicating no concerns.
The revenue and profit decline with a swing to negative operating cash flow signals operational stress despite the clean audit opinion. Shareholders should watch for liquidity risks given the falling cash reserves.