The Board of Directors of Harmony Capital Services Limited at their meeting held on Tuesday, 13th May, 2025, at the registered office of the Company situated at Office No. A-405, 4th Floor, ....
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Harmony Capital Services Limited's board approved its audited financial results for the quarter and financial year ended 31 March 2025 at a meeting held on 13 May 2025. The company reported no revenue from operations and only Rs. 0.64 lakh in other income for the full year, the same as last year. However, total expenses surged sharply to Rs. 60.47 lakh from Rs. 9.85 lakh in FY24, driven mainly by a sharp rise in 'other expenses'. As a result, the net loss widened significantly to Rs. 60.47 lakh versus Rs. 6.73 lakh in the previous year, translating to a loss per share of Rs. 2.02. Cash and equivalents fell from Rs. 48.56 lakh to Rs. 7.26 lakh, and the company reported negative operating cash flow of Rs. 41.30 lakh. Other equity has turned deeply negative at Rs. (226.42) lakh, while the auditor (Kapish Jain & Associates) issued an unmodified (clean) opinion on the results.
The deepening losses, negligible income, depleting cash, and negative other equity point to serious financial weakness, which could weigh on shareholder value and raise sustainability concerns despite the clean auditor's opinion.