As per document attached.
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Awaiting price reaction for this filing.
SSPN Finance Limited filed its audited annual results for FY25, reporting total revenue of Rs. 30.4 lakhs, down from Rs. 35.0 lakhs in FY24, a decline of about 13%. Profit after tax improved to Rs. 1.23 lakhs from Rs. 0.70 lakhs in the previous year, helped by lower overall expenses. However, the company continued to report negative operating cash flow of Rs. (6.43) lakhs, worsening from Rs. (2.62) lakhs last year, and cash balances dropped sharply to Rs. 0.26 lakhs from Rs. 6.69 lakhs. Short-term borrowings rose to Rs. 151.35 lakhs from Rs. 111.85 lakhs, while short-term loans and advances (its main asset) grew to Rs. 524.22 lakhs. The auditor (Jain Anil & Associates) gave an unqualified opinion with no qualifications. Notably, the company discloses it is functioning as an NBFC but has not yet applied for RBI registration, and has not registered for Maharashtra Profession Tax.
The revenue decline and persistently negative operating cash flow are red flags for shareholders, suggesting the core lending business is not generating enough cash to sustain operations, with cash reserves nearly wiped out. The sharp increase in short-term borrowings alongside a compliance gap on RBI NBFC registration adds further risk, though the improvement in net profit provides some near-term support.