Annual Report for FY 2024-25 as per Reg. 34of SEBI LODR, 2015
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Visagar Financial Services Limited has filed its 32nd Annual Report for FY 2024-25 along with the AGM notice, with the meeting scheduled for September 30, 2025 at a banquet hall in Andheri West, Mumbai. Revenue (Income) fell sharply to ₹12,956.73 Lakhs in FY25 from ₹33,421.17 Lakhs in FY24, a drop of over 60%. Despite the steep revenue decline, the company narrowed its losses significantly — loss before tax improved to ₹16.18 Lakhs from ₹115.94 Lakhs, and PAT improved to a loss of ₹16.07 Lakhs from a loss of ₹115.94 Lakhs. Key items to be tabled at the AGM include re-appointment of Director Tilokchand Kothari, approval for material related party transactions of up to ₹25 Crore per related party for FY26, appointment of a new secretarial auditor for 5 years, and regularization of a new director.
Sharp revenue fall alongside narrowed losses suggests the company has drastically scaled back operations but is moving towards breakeven. Shareholders should watch the large proposed related-party transactions (up to ₹25 Crore per party) for governance and conflict-of-interest concerns, as the Chairman holds directorship/stakes in several of these entities.