Share Samadhan Limited Resubmits Financial Results, Reports Profit Decline
Share Samadhan Limited (SSL) resubmitted its financial results for the half-year and year ended March 31, correcting an earlier filing error. The company's net profit declined to Rs 150.10 lakhs from Rs 266.54 lakhs in the previous year. Total income from operations decreased to Rs 486.93 lakhs. The balance sheet showed increased share capital of Rs 1,227.01 lakhs and cash equivalents of Rs 1,635.45 lakhs, reflecting recent IPO proceeds. Of the Rs 2,036.48 lakhs raised through IPO, Rs 762.25 lakhs have been utilized for technology investment and working capital. On a consolidated basis, SSL reported total income of Rs 1,518.90 lakhs and net profit of Rs 314.62 lakhs.
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Share Samadhan Limited (SSL), a company listed on the BSE, has resubmitted its financial results for the half-year and year ended March 31, correcting an earlier filing error. The company had inadvertently submitted a Limited Review Report instead of the required Auditor's Report for its year-end submissions.
Financial Performance
The resubmitted audited financial results reveal a decline in profitability for Share Samadhan Limited:
- Net Profit: Rs 150.10 lakhs, down from Rs 266.54 lakhs in the previous year
- Total Income from Operations: Rs 486.93 lakhs, compared to Rs 571.06 lakhs in the previous year
Balance Sheet Highlights
The company's balance sheet showed significant changes, reflecting the impact of its recent Initial Public Offering (IPO):
- Share Capital: Increased to Rs 1,227.01 lakhs from Rs 901.89 lakhs
- Cash and Cash Equivalents: Grew substantially to Rs 1,635.45 lakhs from Rs 376.02 lakhs
IPO Proceeds Utilization
Share Samadhan Limited raised Rs 2,036.48 lakhs through its IPO, of which:
- Rs 762.25 lakhs have been utilized
- Rs 1,274.23 lakhs remain unutilized
The utilized funds were primarily directed towards:
- Technology investment: Rs 150.00 lakhs
- Working capital requirements: Rs 612.25 lakhs
Management Statement
Kumar Rishi, Company Secretary of Share Samadhan Limited, stated, "We regret the oversight in our initial submission. We assure you of our commitment to comply with all regulatory requirements and ensure that such instances are avoided in the future."
Consolidated Results
On a consolidated basis, Share Samadhan Limited reported:
- Total Income: Rs 1,518.90 lakhs
- Net Profit: Rs 314.62 lakhs
Market Impact
The resubmission of financial results with the correct Auditor's Report demonstrates SSL's commitment to regulatory compliance and transparency. However, the decline in profitability may warrant attention from investors and analysts.
Share Samadhan Limited's stock performance in the coming days may reflect the market's reaction to these resubmitted financial results and the company's overall financial health.
Historical Stock Returns for Share Samadhan
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -3.76% | -0.43% | +0.29% | -3.86% | -7.57% | -7.57% |
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