Don’t Trade in the Dark—Get Your Pre-Market Report Every Day.Join Now
Search stocks
Viji Finance Ltd

| Annual Report for the Financial Year 2024-25

BULLISH SENTIMENT

Report Source

⬤8th Dec 25

Summary : NBFC Viji Finance poised for growth, expanding reach, diversifying products, and strengthening capital.

Annual Report Analysis & Insights

Financial Disclosures

  1. Total Expenditure FY25: INR 271.26 Lakhs.
  2. Finance Costs FY25: INR 46.50 Lakhs.
  3. Employee Benefits Expenses FY25: INR 82.26 Lakhs.
  4. Depreciation, amortisation and impairment FY25: INR 34.98 Lakhs.
  5. Other expenses FY25: INR 107.52 Lakhs.
  6. Undisputed other payables considered good: INR 43.82 Lakhs (various maturities).
  7. Total Income FY25: INR 292.92 Lakhs.
  8. Interest Income FY25: INR 228.88 Lakhs.
  9. Fees and commission Income FY25: INR 3.63 Lakhs.
  10. Other Income FY25: INR 60.41 Lakhs.
  11. Net cash flows from operating activities FY25: -INR 287.90 Lakhs.
  12. Net cash flows from investing activities FY25: -INR 10.84 Lakhs.
  13. Net cash flows from financing activities FY25: INR 823.91 Lakhs.
  14. Cash and cash equivalents at end of period FY25: INR 549.40 Lakhs.
  15. NIL contingent liabilities reported.
  16. Total Assets FY25: INR 3,505.39 Lakhs.
  17. Total Liabilities FY25: INR 1,366.56 Lakhs.
  18. Total Equity FY25: INR 2,138.83 Lakhs.
  19. Loans (Financial Assets) FY25: INR 2,705.60 Lakhs.
  20. Borrowings (Financial Liabilities) FY25: INR 1,259.72 Lakhs.
  21. Material RPTs with Mr. Vijay Kothari for unsecured loan up to INR 25 Crores.
  22. Outstanding unsecured loan from Mr. Vijay Kothari (KMP) FY25: INR 518.56 Lakhs.
  23. Standalone and consolidated financial statements prepared as per Ind-AS.
  24. Consolidated data provided up to 10th January, 2024, due to subsidiary disposal.

Corporate Overview

  1. Domiciled in India, operating in Primary and Secondary markets.
  2. Regulatory changes impacting NBFC operations.
  3. Market volatility affecting financial performance.
  4. Credit risk due to loan defaults.
  5. Exposure to credit risk due to loan defaults.
  6. Regulatory changes in NBFC regulations.
  7. Non-Banking Financial Company (NBFC) engaged in providing financial services.
  8. Bullish on growth, driven by strong brand reputation, customized products, and expanding customer base.
  9. Focus on historically underserved or excluded segments.
  10. The Company operates only in one segment i.e. Finance services.
  11. The company does not have any manufacturing plants.
  12. Augment capital base for increasing operational scale.
  13. Expanding geographic presence into new markets.
  14. Leveraging technology to enhance customer experience.
  15. Introducing new financial products and services.

Risk Factors

  1. Regulatory changes impacting NBFC operations.
  2. Market volatility affecting financial performance.
  3. Credit risk from loan defaults.
  4. Operational risks from internal processes.

Key Drivers

  1. Expanding geographic presence, new markets.
  2. Leveraging technology for enhanced customer experience.
  3. Introducing new financial products and services.
  4. Increased capital base from rights issue.

Auditor’s Report

  1. Unmodified opinion on standalone Ind AS financial statements for March 31, 2025.
  2. Provision on Standard assets and Substandard assets accounted but not accounted as per RBI provisioning norms.

Board Commentary

  1. Mr. Ashish Verma appointed as Professional Non-Executive Director w.e.f. 08th December, 2025.
  2. Mr. Rajendra Sahay Shrivastava appointed as Additional Director w.e.f. 03rd September, 2024.
  3. Mr. Aryaman Kothari retires by rotation.
  4. Mr. Nitesh Gupta re-appointed as Whole Time Director for three years.
  5. Mr. Vijay Kothari re-appointed as Chairman and Managing Director for three years.
  6. Ms. Neha Bhadoriya resigned as Internal Auditor, CA Shubham Chopra appointed w.e.f. 08th September, 2025.
  7. No dividend recommended for the Financial Year ended March 31, 2025, to retain resources for growth.
  8. Credit Risk: risk of loan defaults.
  9. Market Risk: fluctuations in interest rates and market conditions.
  10. Operational Risk: risks from internal processes and systems.
  11. NSE imposed fines of Rs. 1,94,700/- for non-filing of consolidated financial statements for FY2023-24.
  12. Company required to upload KYC data on CICs portal.
  13. FCGPR submission to RBI for NRI shares pending approval.
  14. NSE directed clarifications on promoter's share acquisition exceeding limits.
  15. Approval for material related party transactions with Mr. Vijay Kothari up to INR 25 Crores for FY2025-26.
  16. Authority to create charge on movable and immovable properties for borrowings up to Rs. 500 crores.
  17. Authority to borrow money up to Rs. 500 crores.
  18. Approval to raise funds through secured/unsecured loans with equity conversion option up to INR 50 Crores.
  19. Increase in authorized share capital from Rs. 18 Crores to Rs. 30 Crores.
  20. Rights Issue of 6,00,00,000 Equity Shares for INR 9.00 Crores in FY2024-25.

Corporate Governance

  1. Implemented Vigil Mechanism through a Whistle Blower Policy.
  2. Adopted Code of Conduct for Board members and senior management.
  3. Independent Directors confirmed meeting independence criteria.
  4. Board believes Independent Directors possess high integrity and expertise.
  5. Established Audit, Nomination & Remuneration, Stakeholders Relationship, and Right Issue Committees.
  6. Finance Committee re-constituted during FY2025-26.
  7. NSE imposed fines for non-filing of consolidated financial statements.
  8. Requirement to upload KYC data on CICs portal.
  9. RBI approval pending for NRI share issue.
  10. NSE directed clarifications on promoter's share acquisition.

Management Discussion & Analysis

Future Strategy

  1. Expanding geographic presence.
  2. Digitalization to enhance customer experience and efficiency.
  3. Product diversification to cater to evolving customer needs.

Industry Overview

  1. NBFCs are powerful engines of credit, expanding financial access.
  2. Promising future for NBFCs in India, driven by digitization and niche specialization.

Macroeconomic Outlook

  1. India is the world's fastest-growing major economy.
  2. IMF projects India's real GDP growth highest among major nations.
  3. Global headline inflation expected to decline to 4.3% in CY2025.

Operational Focus Areas

  1. Leveraging technology for operational efficiency.
  2. Robust credit assessment and monitoring processes.
  3. Regular audits and process improvements.

Performance Drivers

  1. Strong brand reputation and customized financial products.
  2. Expanding customer base.
  3. 51.97% increase in total income for FY2024-25.
  4. 40.35% increase in Net Profit for FY2024-25.

Risk Control Measures

  1. Robust credit assessment and monitoring processes.
  2. Diversification and hedging strategies for market risk.
  3. Regular audits and process improvements for operational risk.
  4. Robust risk management framework with committee oversight.

Critical Risks

  1. Credit Risk: loan defaults.
  2. Market Risk: interest rate fluctuations and market conditions.
  3. Operational Risk: internal processes and systems.