CMX Holdings Q4 FY25 results: net loss narrows to ₹0.12 crore

How did CMX Holdings perform in Q4 FY25?

CMX Holdings reported standalone revenue of ₹0 crore in Q4 FY25, unchanged from Q4 FY24 and Q3 FY25. Total expenses were ₹0.12 crore, against ₹0.28 crore in Q4 FY24 and ₹0.13 crore in Q3 FY25. The company reported a net loss of ₹0.12 crore, compared with a net loss of ₹0.18 crore in Q4 FY24 and ₹0.14 crore in Q3 FY25. Basic EPS was ₹0.00.

The quarter’s EBITDA was negative ₹0.12 crore, compared with negative ₹0.28 crore in Q4 FY24 and negative ₹0.13 crore in Q3 FY25. No EBITDA margin was reported. The results were on a standalone basis; no consolidated figures were provided. The quarter ended on 31 March 2025 and the results were approved by the board on 5 May 2025.

What changed in CMX Holdings' costs and profit?

Total expenses fell by ₹0.16 crore, or 57.1%, from Q4 FY24 to Q4 FY25. Other expenses declined by ₹0.17 crore, or 73.9%, to ₹0.06 crore, while employee cost rose by ₹0.02 crore, or 50.0%, to ₹0.06 crore. Cost of materials, finance costs and depreciation were unchanged at ₹0 crore, and there was no exceptional item.

Other income fell by ₹0.10 crore to ₹0 crore from Q4 FY24, while tax was unchanged at ₹0 crore. As a result, EBITDA and profit before tax improved by ₹0.16 crore and ₹0.06 crore, respectively, to negative ₹0.12 crore. The net loss narrowed by ₹0.06 crore to ₹0.12 crore. Against Q3 FY25, total expenses fell by ₹0.01 crore, or 7.7%, and other expenses fell by ₹0.01 crore, or 14.3%.

How did CMX Holdings do in FY25 as a whole?

For FY25, CMX Holdings reported revenue of ₹0 crore, unchanged from FY24, and total income of ₹0.2 crore, down 47.4% from ₹0.38 crore. Profit before tax and net loss were both ₹0.25 crore, compared with ₹0.18 crore in FY24, while basic EPS was ₹0.00 against ₹0.16. The auditors reported a net loss of Rs. 2,522.49 thousand for the year ended March 31, 2025.

The full-year results were standalone. The annual results were approved by the board on 5 May 2025 following the recommendation of the audit committee. The filing also stated that the company’s operations were restricted to income from services because the Reserve Bank had rejected its application to carry on non-banking financial business.

What do the balance sheet and cash flow show?

At 31 March 2025, total assets stood at ₹11.18 crore, compared with ₹0.17 crore at 30 September 2024. Total equity was negative ₹568.33 crore against negative ₹5.43 crore, while borrowings were ₹572.2 crore compared with ₹5.49 crore. Cash was ₹2.68 crore against ₹0.01 crore at the previous balance sheet date.

For FY25, operating cash flow was negative ₹0.27 crore, compared with negative ₹0.1 crore in FY24. Investing cash flow was ₹0.01 crore against ₹0 crore, while financing cash flow was ₹0.28 crore against ₹0.11 crore. Capex was ₹0 crore in both periods. The auditors stated that current liabilities exceeded current assets by Rs.21,095.71 thousand at 31 March 2025.

How has CMX Holdings done over the last 8 quarters?

The quarterly profit trend improved from a net loss of ₹0.18 crore in Q4 FY24 to a net loss of ₹0.14 crore in Q3 FY25 and ₹0.12 crore in Q4 FY25, after a profit of ₹0.01 crore in Q2 FY25. Revenue was ₹0 crore in each of the last four quarters. No EBITDA margin was reported for the quarterly series. The direction of profit was lower loss in the latest quarter, while the company continued to report no revenue.

What did the auditors point out?

The auditors issued a qualified opinion on the quarterly and annual financial statements. They said the company was not allowed to carry on non-banking financial business after the Reserve Bank rejected its application, and that its operations were restricted to income from services. The auditors also said confirmation or reconciliation of Rs.36,587.61 thousand disclosed as interest-free, long-term unsecured borrowings was not received or made available for audit, and that the terms and conditions of the loans were also unavailable.

The auditors said the company’s accumulated loss of Rs.1,70,063.22 thousand had completely eroded its net worth. They also reported negative operating cash flows over several years, working-capital constraints and an acute working-capital deficit. Management said the accounts were prepared on a going-concern basis, while the accounts included no adjustments that might be necessary if the company could not continue as a going concern.

How did CMX Holdings shares react?

The filing was announced after market hours, and the reaction-day move was 5.0% from the previous close of ₹11.90. By the next day’s close, the stock was up 10.2% from its pre-results close; by five sessions later, it was up 22.6%. The industry median was up 0.1% on the reaction day, 0.3% by the next day and down 3.3% by five days. The stock’s excess sector performance was 4.9 percentage points, 9.9 percentage points and 25.9 percentage points, respectively.

Earlier reaction-day moves were 2.0% on 9 August 2024 and 2.0% on 28 May 2024. The stock’s one-month move was down 3.4% from the pre-results close.

How did other Other Financial Services companies do?

In the Other Financial Services peer group, 70 companies were compared. The median revenue growth was -1.9%. The data shows 45 peers with profit up, based on 109 profit comparisons. The supplied peer comparison also identifies the companies with revenue growth slower or faster than CMX Holdings, without providing separate counts in the excerpt.