Audited Standalone & Consolidated Financial Results for Quarter and Year ended March 31, 2025.
VLSFINANCE · price
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VLS Finance, an investment-focused NBFC, reported a sharp decline in earnings for FY25 compared to FY24. Standalone total income fell to Rs 10,362.32 lakhs from Rs 41,009.15 lakhs (~75% drop), mainly because net gains on fair value changes collapsed from Rs 37,370.42 lakhs to Rs 7,254.36 lakhs. Standalone profit after tax dropped to Rs 4,532.76 lakhs from Rs 32,021.99 lakhs (~86% lower), with basic EPS at Rs 13.28 vs Rs 91.89 last year. Q4 FY25 alone swung to a loss of Rs 4,052.81 lakhs (standalone) and Rs 3,982.98 lakhs (consolidated), compared to profits of over Rs 7,400 lakhs a year ago. The company also booked Rs 2,009.50 lakhs in impairment on financial instruments (vs Rs 8.15 lakhs last year). Total comprehensive income was deeply negative on a consolidated basis at Rs (46,665.56) lakhs due to large fair-value losses on investments. The auditor (Agiwal & Associates) issued a clean, unmodified opinion. A final dividend of Rs 1.50/share (15%) has been proposed.
Despite reporting positive full-year profit, the dramatic drop in earnings, Q4 losses, and large mark-to-market losses on the investment book signal significant pressure on the company's core investment business. Shareholders should expect a weaker dividend year and watch how the portfolio recovers, though the buyback completed at Rs 380/share in Aug-Sep 2024 and a still-strong cash position (Rs 29,439 lakhs standalone) provide some comfort.