SPA Capital Services Ltd — Board Meeting, 29-05-2025: Board Meeting

SPA Capital Services Ltd has announced a board meeting to approve the financial results for the quarter and half-year. The company reported total revenue of Rs. 32.94 Cr for the year ended March 31, 2025, with a net profit of Rs. 0.494 Cr. However, the auditors issued a qualified opinion due to two key issues: non-provision of Rs. 0.07753 Cr interest expense on certain loans and lack of provisioning for Rs. 3.142 Cr loans classified as loss assets, leading to an overstatement of profits and assets. Management disputes the need for these provisions, citing ongoing disputes and recovery prospects. Total assets stood at Rs. 40.84 Cr, with equity of Rs. 17 Cr. Cash flow from operations was negative at Rs. 2.76 Cr, while investing activities generated Rs. 5.73 Cr.