Manraj Housing Finance Ltd — Results, 07-06-2025: Result

Manraj Housing Finance Ltd. has announced a board meeting to approve the financial results for the quarter and half-year ended March 31, 2025. The company reported total income of Rs. 54.29 lakh and expenses of Rs. 20.65 lakh, resulting in a reported net profit of Rs. 33.64 lakh. However, the statutory auditors issued an adverse opinion citing major concerns: over 99% of assets are advances to related parties currently under Enforcement Directorate investigation with attached properties, raising doubts on recoverability; 64% of liabilities are unsecured loans from these related parties; and a loan default of Rs. 6.87 Cr from Jalgaon Peoples Co-Op. Bank with substantial unprovided interest and penalties amounting to Rs. 5.69 Cr. The company has accumulated losses of Rs. 5.27 Cr and negative net worth, raising significant doubts about its ability to continue as a going concern. Management states ongoing efforts to resolve legal issues and asset liquidation to restore financial health. Internal financial controls were also found inadequate, including failure to implement mandatory audit trail features.