Submission of Audit Report for the Quarter & Year ended 31st March, 2025

Shri Niwas Leasing and Finance Limited, an NBFC, reported audited FY25 results showing a massive net loss of approximately Rs 116.36 crore, compared to a profit of Rs 9.92 lakh in FY24. The loss was driven almost entirely by an exceptional item of Rs 116,356 lakhs, reflecting a 100% impairment provision on loans of Rs 116,488 lakhs. Total assets jumped sharply to Rs 116,676 lakhs (from Rs 356 lakhs) and shareholders' equity turned deeply negative at Rs (116,148) lakhs. The auditor, VRSK & Associates, issued a qualified opinion, flagging non-compliance with Ind AS 109 in calculating Expected Credit Loss on loans and noting that borrowings of Rs 116,298 lakhs were sought to be converted into equity pending SEBI approval. There was also a change in statutory auditor from the previous year. Loss per share stood at Rs 2,911.