NewsEarningsApex Capital and Finance Reports Strong Q1 Results, Approves Key Board AppointmentsApex Capital and Finance Reports Strong Q1 Results, Approves Key Board Appointments
Apex Capital & Finance Limited (ACFL) reported substantial Q1 growth with revenue increasing 191% to Rs. 148.60 lacs and net profit surging 1954% to Rs. 78.05 lacs year-over-year. The company announced several board changes, including the re-appointment of Sh. Sumit Choudhary as Director and the recommended appointment of Mr. Surinder Singh Kohli as Non-Executive Independent Director. The Board also approved remuneration for Managing Director Sh. Shekhar Singh and recommended M/s S. Behera & Co. as Secretarial Auditors, all subject to shareholder approval. Auditors found no issues with the financial results.
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Apex Capital & Finance Limited (ACFL) has reported a significant increase in revenue and profit for the first quarter, along with several key board appointments and corporate actions.
Financial Performance
ACFL's unaudited financial results for Q1 show remarkable year-over-year growth:
| Particulars (Rs. in Lacs) | Q1 Current | Q1 Previous | YoY Change |
|---|---|---|---|
| Revenue from Operations | 148.60 | 51.07 | +191% |
| Total Income | 148.93 | 51.07 | +192% |
| Profit Before Tax | 104.82 | 5.08 | +1963% |
| Net Profit After Tax | 78.05 | 3.80 | +1954% |
| Basic EPS (Rs.) | 1.32 | 0.06 | +2100% |
The company's revenue from operations surged to Rs. 148.60 lacs, marking a 191% increase from Rs. 51.07 lacs in the same quarter last year. Net profit after tax saw an exponential rise to Rs. 78.05 lacs, up from Rs. 3.80 lacs in the previous year's corresponding quarter, representing a growth of 1954%.
Board Appointments and Corporate Actions
The Board of Directors, in their meeting held on August 13, approved several key appointments and corporate actions:
Re-appointment of Director: Sh. Sumit Choudhary (DIN: 02586702) has been re-appointed as a Director, subject to shareholder approval.
New Independent Director: The Board recommended the appointment of Mr. Surinder Singh Kohli (DIN: 00169907) as a Non-Executive Independent Director for a term of five consecutive years, pending shareholder approval.
Managing Director's Remuneration: The Board approved the remuneration for Sh. Shekhar Singh, the Managing Director, which will be presented to shareholders for approval.
Secretarial Auditors: M/s S. Behera & Co., Company Secretaries, have been recommended for appointment as Secretarial Auditors for a five-year term, subject to shareholder approval.
Other Corporate Matters
- The Board approved the Director's Report for the previous financial year.
- The Notice for the upcoming Annual General Meeting was considered and approved.
Auditor's Review
Mahesh Kumar & Company, Chartered Accountants, conducted a limited review of the financial results for the quarter. They reported that nothing has come to their attention that causes them to believe that the financial results do not present a true and fair view in accordance with applicable accounting standards and other recognized accounting practices and policies.
Apex Capital and Finance Limited continues to focus on its core financing activities, with all operations carried out within India. The company's strong financial performance in Q1 reflects its robust growth trajectory and effective management strategies.
Historical Stock Returns for Apex Capital & Finance
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| 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
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