💰 Financial Performance

Revenue Growth by Segment

Total revenues decreased in FY25 compared to the previous year, primarily driven by a decline in interest income from NBFC operations. Specific segment-wise percentage growth was not disclosed.

Geographic Revenue Split

Operations are primarily concentrated in West Bengal, India, with the registered office located in Kolkata. Regional percentage contribution is not disclosed.

Profitability Margins

Net Profit Margin was 76.04% in FY25, a slight decline from 76.17% in FY24. Operating Profit Margin was 98.30% in FY25 compared to 98.55% in FY24. The decline is attributed to increased administrative and employee benefit expenses.

EBITDA Margin

Operating profit decreased during the year due to a considerable increase in administrative and other expenses. Operating Profit Margin stood at 98.30% for FY25.

Capital Expenditure

The company spent INR 13.50 Lakhs on CSR projects in FY25, exceeding the required INR 13.44 Lakhs by INR 6,000. Specific historical or planned industrial CapEx was not disclosed.

Credit Rating & Borrowing

The company reported zero debt as of March 31, 2025. Consequently, debt-equity and interest coverage ratios are not applicable. Finance costs marginally increased during the year.

⚙️ Operational Drivers

Raw Materials

As a financial services company (NBFC), the primary 'raw material' is capital for investment and lending. Specific physical raw materials are not applicable.

Import Sources

Not applicable for financial services.

Key Suppliers

Not applicable; however, the company utilizes M/s C. B. Management Services (P) Ltd. as its Registrar and Share Transfer Agent.

Capacity Expansion

Not applicable for the current business model of trading and dealing in securities and mutual funds.

Raw Material Costs

Not applicable. Operating expenses increased considerably, impacting the operating profit margin which fell by 0.25% YoY.

Manufacturing Efficiency

Not applicable. The company operates with a lean staff of 3 permanent employees as of March 31, 2025.

Logistics & Distribution

Not applicable.

📈 Strategic Growth

Growth Strategy

The company plans to leverage digital credit enablement through RBI's frictionless platforms and adoption of ONDC and Open Credit Enablement Network (OCEN) to improve credit penetration and sourcing efficiency.

Products & Services

Trading and dealing in Securities and Mutual Funds; NBFC lending and capital market operations.

Brand Portfolio

Quest Capital Markets (formerly BNK Capital Markets Limited).

New Products/Services

Adoption of digital sourcing and servicing for NBFC operations is expected to enhance service delivery, though specific revenue contribution percentages were not disclosed.

Market Expansion

The company is focusing on underserved people and SMEs through financial inclusion processes, leveraging its geographical scope as an NBFC.

Strategic Alliances

The company is part of the RP-Sanjiv Goenka Group and implements CSR through the RP-Sanjiv Goenka Group CSR Trust.

🌍 External Factors

Industry Trends

The NBFC sector is undergoing a digital transformation with the rise of neo-banking, UPI, and digital authentication, which modularizes financial services and credit.

Competitive Landscape

The sector features heterogeneous business models with increasing competition from digital-first lenders and traditional banks focusing on MSME lending.

Competitive Moat

Durable advantages include being part of the established RP-Sanjiv Goenka Group and maintaining a very high Capital to Risk Weighted Assets Ratio (CRAR) of 122.40%, providing significant financial resilience.

Macro Economic Sensitivity

Highly sensitive to interest rate changes and regulatory shifts by the RBI regarding NBFC operations.

Consumer Behavior

Shift toward digital credit and mobile-based financial services is driving the company's adoption of frictionless platforms.

Geopolitical Risks

Not disclosed; operations appear domestically focused.

⚖️ Regulatory & Governance

Industry Regulations

Operations are governed by RBI directions for NBFCs, including Asset Liability Management (ALM) guidelines and IT Strategy requirements.

Environmental Compliance

Not applicable for the company's core financial operations.

Taxation Policy Impact

The company reported a Net Profit After Tax of INR 1962.57 Lakhs on a Profit Before Tax of INR 2537.12 Lakhs, implying an effective tax rate of approximately 22.6%.

⚠️ Risk Analysis

Key Uncertainties

Liquidity risk and interest rate sensitivity are identified as critical risks. The CRAR decreased from 137.15% to 122.40% YoY.

Geographic Concentration Risk

High concentration in Kolkata, West Bengal, where the registered office and primary operations are located.

Third Party Dependencies

Dependency on M/s C. B. Management Services (P) Ltd. for registrar and share transfer services.

Technology Obsolescence Risk

The company has established an IT Strategy Committee to mitigate technology risks and oversee the adoption of digital credit platforms.

Credit & Counterparty Risk

The Investment Committee monitors NPA classification and the quality of demand and call loans made to various parties.