💰 Financial Performance

Revenue Growth by Segment

Total Income decreased by 33.5% YoY to INR 40.88 Cr. Segment performance: Sale of Shares (81.7% of income) fell 26.0% to INR 33.42 Cr; Net Gain on fair value changes dropped 79.6% to INR 2.68 Cr; Profit on Sale of Investment grew 241.1% to INR 3.14 Cr; Dividend Income fell 23.6% to INR 0.18 Cr; Interest Income fell 80.7% to INR 0.03 Cr.

Geographic Revenue Split

100% of revenue is generated within India, with the company being domiciled and registered in Kolkata, West Bengal.

Profitability Margins

Profit Before Tax (PBT) margin compressed significantly from 45.8% in FY24 to 21.4% in FY25. Net Profit for the year was approximately INR 5.30 Cr after a current tax expense of INR 3.47 Cr.

EBITDA Margin

Core profitability (PBT margin) was 21.4% in FY25, down from 45.8% YoY, primarily due to a 79.6% reduction in fair value gains on investments.

Capital Expenditure

Net purchase of Property, Plant, and Equipment and Other Intangible Assets was INR 0.83 Cr (INR 8,305.13 thousand) in FY25, compared to INR 0.47 Cr in FY24.

Credit Rating & Borrowing

Credit rating not disclosed. Finance costs were INR 0.026 Cr (INR 262.19 thousand) in FY25, representing a 7.2% increase YoY from INR 0.024 Cr.

⚙️ Operational Drivers

Raw Materials

As an NBFC, the primary 'stock-in-trade' consists of Equity Shares and Mutual Fund units. Purchase of shares amounted to INR 31.35 Cr, representing 97.6% of total expenses.

Import Sources

Not applicable as the company sources its investment products (shares and mutual funds) from the Indian capital markets.

Key Suppliers

Not applicable for an investment firm; however, the company utilizes SK Infosolutions Pvt. Ltd. as its Registrar & Share Transfer Agent (RTA).

Capacity Expansion

Not applicable for an investment-based NBFC. The company manages an investment portfolio valued at INR 85.02 Cr as of March 31, 2025.

Raw Material Costs

Purchase of shares (stock-in-trade) was INR 31.35 Cr, which is 76.7% of total income. This cost decreased by 28.9% YoY from INR 44.12 Cr in FY24.

Manufacturing Efficiency

Not applicable. The company operates as a Non-Banking Financial Company (NBFC).

📈 Strategic Growth

Expected Growth Rate

Not disclosed

Growth Strategy

The company intends to achieve growth by managing its INR 85.02 Cr investment portfolio in mutual funds and equity shares to maximize capital gains and dividend income, while maintaining compliance with RBI's Core Investment Company directions.

Products & Services

Investment in Mutual Funds and Equity Shares; financial services as a registered NBFC.

Brand Portfolio

Saumya Consultants Limited.

🌍 External Factors

Industry Trends

The NBFC industry is seeing increased regulatory oversight from the RBI, particularly for Core Investment Companies, requiring stricter adherence to capital adequacy and reporting standards.

Competitive Landscape

Competes with other investment firms, hedge funds, and NBFCs for profitable investment opportunities in the Indian equity and mutual fund markets.

Competitive Moat

The company's moat is its NBFC registration under Section 45-IA of the RBI Act, 1934, providing a regulated platform for investment activities, though this is subject to ongoing regulatory compliance.

Macro Economic Sensitivity

Highly sensitive to Indian capital market performance and GDP growth, which influence equity valuations and dividend payouts.

Consumer Behavior

Not applicable for this business model.

Geopolitical Risks

Indirectly impacted by global geopolitical tensions that cause volatility in the Indian stock exchanges where the company's INR 85.02 Cr portfolio is invested.

⚖️ Regulatory & Governance

Industry Regulations

Registered as an NBFC under Section 45-IA of the RBI Act, 1934; complies with the Master Direction - Core Investment Companies (Reserve Bank) Direction, 2016.

Taxation Policy Impact

The company incurred a current tax expense of INR 3.47 Cr in FY25, representing an effective tax rate of 39.5% on its PBT of INR 8.76 Cr.

Legal Contingencies

The company reported zero pending litigations that would impact its financial position as of March 31, 2025.

⚠️ Risk Analysis

Key Uncertainties

Market risk is the primary uncertainty, evidenced by the 79.6% YoY decline in fair value gains, which can cause significant volatility in annual profits.

Geographic Concentration Risk

100% concentration in India, with the registered office and operations based in Kolkata.

Third Party Dependencies

Dependent on SK Infosolutions Pvt. Ltd. for registrar and share transfer services and A.K. Meharia & Associates for statutory auditing.

Technology Obsolescence Risk

The company uses accounting software with audit trail features to meet Rule 11(g) requirements, mitigating risks of financial record tampering.

Credit & Counterparty Risk

The company has a loan book of INR 2.85 Cr (INR 28,510.64 thousand), exposing it to counterparty default risk, though this represents only 2.3% of total assets.