BYLD Capital Finance FY26 loss widens to ₹220.61 lakhs
BYLD Capital Finance Limited reported a widened net loss of ₹220.61 lakhs for FY26, with accumulated losses reaching ₹519.77 lakhs. The company completed a ₹1000.18 lakhs rights issue and changed its name from Avasara Finance Limited.
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BYLD Capital Finance Limited reported a net loss of ₹220.61 lakhs for the financial year ended March 31, 2026, widening from a loss of ₹44.61 lakhs in the previous year. The company’s accumulated losses stood at ₹519.77 lakhs as of March 31, 2026, resulting in significant erosion of net worth. Despite the losses, the financial statements were prepared on a going concern basis, contingent upon the performance of the company’s future business plan.
The board of directors approved the audited standalone financial results for the quarter and year ended March 31, 2026, at a meeting held on May 27, 2026. The results were reviewed by the Audit Committee and subjected to a limited review by the statutory auditors. For the quarter ended March 31, 2026, the company reported a net loss of ₹128.05 lakhs on revenue from operations of ₹5.65 lakhs. Total expenses for the quarter rose to ₹169.87 lakhs, driven by employee benefits expense and other expenses.
Financial Performance
The company’s financial results for the year ended March 31, 2026, reflect a challenging operational environment. Revenue from operations for the year was ₹5.65 lakhs, while total expenses increased to ₹262.44 lakhs. The profit before tax for the year was a loss of ₹256.79 lakhs. The basic and diluted earnings per share (EPS) for the year were reported as (₹2.21), compared to (₹0.89) in the previous year.
| Particulars | Year Ended March 31, 2026 (₹ in Lakhs) | Year Ended March 31, 2025 (₹ in Lakhs) |
|---|---|---|
| Revenue from operations | 5.65 | - |
| Total expenses | 262.44 | 44.61 |
| Profit before tax | (256.79) | (44.61) |
| Net profit/(loss) for the year | (220.61) | (44.61) |
| Paid-up equity share capital | 1,500.27 | 500.09 |
Capital Structure and Appointments
During the quarter ended March 31, 2026, BYLD Capital Finance Limited completed a rights issue of 1,00,01,800 equity shares of ₹10 each at an issue price of ₹10 per share, aggregating to ₹1000.18 lakhs. The allotment was made between January 9, 2026, and January 19, 2026, increasing the paid-up equity share capital from ₹500.09 lakhs to ₹1500.27 lakhs. The rights issue was conducted in compliance with the SEBI (ICDR) Regulations, 2018, and the SEBI (LODR) Regulations, 2015.
The board recommended the appointment of M/s Priti J. Sheth & Associates, Practicing Company Secretary, as Secretarial Auditor for a term of five years. Additionally, M/s Adithya and Vishwas, Chartered Accountants, were appointed as Internal Auditor for FY 2026-27. These appointments were made pursuant to SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023.
Corporate Changes
The company changed its name from "Avasara Finance Limited" to "BYLD Capital Finance Limited" effective May 22, 2026, following a fresh Certificate of Incorporation issued by the Registrar of Companies - Mumbai. The necessary approvals from shareholders, the Reserve Bank of India, and BSE Limited were obtained. The Corporate Identification Number (CIN) remains unchanged as L74899MH1994PLC216417.
What specific strategies within the new business plan are expected to reverse the widening net losses and restore net worth?
How does the company plan to utilize the ₹1000.18 lakhs raised via the rights issue to generate sufficient revenue relative to the high expense base?
Will the recent rebranding to BYLD Capital Finance Limited include a pivot in business model or target market to address the operational challenges?
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