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India Finsec Limited has announced a board meeting to approve the financial results for the quarter and half-year. Statutory auditors Ajay Rattan & Co. issued an unmodified opinion on both standalone and consolidated results. The company appointed M/s Sarita Singh & Associates as Secretarial Auditor and Scrutinizer for postal ballot e-voting, and M/s Himanshu Sunil & Associates as Internal Auditor for FY 2025-26 onward. A postal ballot notice was issued for seeking shareholder consent, including reappointment of Mrs. Purva Mangal as a Non-Executive Independent Director for 5 years. The company surrendered its NBFC-ICC certificate to operate as an unregistered Core Investment Company, facilitating its subsidiary IFL Finance Limited’s conversion from HFC to NBFC-ICC. The shareholding in the subsidiary increased from 62.72% to 71.01% following preferential allotment.
Standalone results showed total income of Rs 41.17 lakh with a profit after tax of Rs 2.01 lakh for the year. Investments stood at Rs 7,756.88 lakh. Consolidated revenue was Rs 71.92 Cr with net profit of Rs 18.13 Cr. The subsidiary IFL Finance Limited reported total assets of Rs 361.86 Cr, revenue of Rs 18.15 Cr, and net profit of Rs 18.13 Cr. Net debt-to-equity ratio on consolidated basis was 2.68. The company generated positive cash flow from operations on standalone and consolidated basis, aided by equity infusion and borrowings.
Overall, India Finsec is transitioning towards an unregistered Core Investment Company model while strengthening its subsidiary’s NBFC status. The equity infusion and operational performance of the subsidiary underpin future growth prospects.