💰 Financial Performance

Revenue Growth by Segment

Interest income, the primary revenue stream, grew by 6.75% YoY, increasing from INR 8,701.67 thousand in FY24 to INR 9,288.73 thousand in FY25. Other operating income and dividends were reported at nil for both periods.

Geographic Revenue Split

Not explicitly disclosed in available documents, though the company operates out of Kolkata, West Bengal.

Profitability Margins

Profitability is severely impacted by fair value changes. The company recorded a 'Net loss on fair value change' of INR 8,437.50 thousand in FY25, which represents 90.5% of total income, compared to a loss of INR 5,744.00 thousand in FY24. Retained earnings as of March 31, 2025, stood at a deficit of INR 3,050.80 thousand.

EBITDA Margin

Not directly provided, but total income was INR 9,319.69 thousand against total expenses which included finance costs of INR 424.59 thousand (4.5% of income) and employee benefits of INR 1,763.15 thousand (18.9% of income).

Capital Expenditure

The company maintains property, plant, and equipment with proper records, though absolute INR values for new additions in FY25 were not specified. Intangible assets are nil.

Credit Rating & Borrowing

The company reported finance costs of INR 424.59 thousand in FY25, a decrease of 21.7% from INR 542.16 thousand in FY24, suggesting reduced borrowing or lower interest rates.

⚙️ Operational Drivers

Raw Materials

Not applicable as the company is a financial services entity; its primary 'input' is capital for lending.

Import Sources

Not applicable for financial services.

Key Suppliers

Not applicable; however, the company manages a loan book of INR 108,843.60 thousand.

Capacity Expansion

Current lending capacity is reflected in the aggregate loans and advances of INR 108,843.60 thousand. No specific expansion of the loan book target was disclosed.

Raw Material Costs

Finance costs (cost of capital) represented 4.5% of total income in FY25, down from 6.2% in FY24.

Manufacturing Efficiency

Not applicable; efficiency is measured by the 6.75% growth in interest income relative to a 21.7% reduction in finance costs.

Logistics & Distribution

Not applicable.

📈 Strategic Growth

Expected Growth Rate

6.75%

Growth Strategy

The company focuses on its principal business of providing loans and advances. Growth is driven by interest income from its loan portfolio, which stood at INR 108,843.60 thousand. The strategy involves maintaining a portfolio of loans repayable on demand to ensure liquidity and managing fair value risks in financial instruments.

Products & Services

Leasing services, loans, and advances provided to various parties.

Brand Portfolio

Virat Leasing Limited.

Market Expansion

Not disclosed; currently focused on existing lending operations.

Market Share & Ranking

Not disclosed.

Strategic Alliances

The company does not have any subsidiaries, associates, or joint ventures.

🌍 External Factors

Industry Trends

The NBFC sector is evolving with stricter internal control requirements and audit trail mandates. The company has implemented audit trail features in its accounting software to comply with recent regulatory shifts, ensuring no tampering occurs.

Competitive Landscape

Competes with other small to mid-sized NBFCs in the Indian market for lending and leasing opportunities.

Competitive Moat

The company's moat is based on its regulatory standing as a leasing and finance entity and its established loan book of INR 108.84 million. Sustainability depends on managing credit risks and market valuation risks.

Macro Economic Sensitivity

Highly sensitive to interest rate cycles and financial market stability, as evidenced by the substantial fair value losses on financial instruments.

Consumer Behavior

Demand for loans and leasing services drives the core interest income growth.

Geopolitical Risks

Low direct impact, but indirect impact via domestic financial market volatility affecting asset valuations.

⚖️ Regulatory & Governance

Industry Regulations

Compliant with Section 143(3) of the Companies Act, 2013 regarding internal financial controls and Section 197 regarding director remuneration. The company maintains an audit trail as per Rule 11(g) of Companies (Audit and Auditors) Rules 2014.

Environmental Compliance

Not applicable for a financial services firm.

Taxation Policy Impact

The company stated that provisions for provident fund, employee state insurance, and GST are currently not applicable. No statutory dues were reported as unpaid due to disputes.

Legal Contingencies

The company reported no significant pending litigations as of March 31, 2025, that would substantially affect its financial position.

⚠️ Risk Analysis

Key Uncertainties

The primary risk is the volatility of financial instrument valuations, which caused a loss equivalent to 90.5% of total income in FY25. Credit risk is also present as loans are repayable on demand.

Geographic Concentration Risk

Operations are concentrated in India, specifically the Kolkata region.

Third Party Dependencies

Dependent on the creditworthiness of borrowers for the INR 108,843.60 thousand loan portfolio.

Technology Obsolescence Risk

Low risk, but the company must maintain compliant accounting software with audit trail capabilities to meet regulatory standards.

Credit & Counterparty Risk

The company represents that loans and advances are not prejudicial to its interests, but the high volume of demand loans (INR 108.84 million) requires active monitoring of counterparty liquidity.