We wish to inform you that the Board of Directors of Tirupati Fincorp Limited ('Company') at their meeting held today i.e. August 11, 2025 inter-alia: 1. Considered and approved the unaudited ....
Awaiting price reaction for this filing.
Tirupati Fincorp's board approved unaudited Q1 FY26 results (quarter ended June 30, 2025) showing total income of ₹1,032.31 lakhs, up ~84% YoY from ₹560.84 lakhs, driven by interest income (₹478.78 lakhs, up ~254%) and securities trading revenue (₹553.53 lakhs). Net profit jumped sharply to ₹165.09 lakhs (EPS ₹3.27) from ₹17.86 lakhs (EPS ₹0.36) a year ago. The board also approved shifting the registered office from Rajasthan to Maharashtra, appointed a new secretarial auditor and an additional independent director, and set the 43rd AGM for September 20, 2025. The auditor's limited review flagged serious concerns: the company's NBFC registration was cancelled by RBI in April 2019, and a fresh RBI order dated May 19, 2025 again rejected its re-registration and directed it to immediately stop financing activity, with the company now seeking a 6-month relaxation. The auditor also noted that internal controls over lending are weak, loan documents were unavailable to verify interest expense, and the March 2025 results had originally been qualified but were filed as unmodified, which is a non-compliance with SEBI LODR.
Highly negative for shareholders: the RBI order bars the company from its core lending business, raising serious going-concern doubts even though the quarter shows strong headline profit growth. The weak internal controls, auditor qualifications, and unresolved RBI status are significant red flags that are likely to weigh on the stock and investor confidence.