Revenue and Operating Performance
Examining the company's revenue streams, Pasupati Fincap has recorded negligible net sales, with a marginal ₹0.07 crore reported in the fiscal year ending March 2024, while other years show no sales revenue. Other operating income has consistently remained at zero, resulting in total operating income being virtually non-existent except for the small figure in 2024. This lack of substantial income has directly impacted the company's ability to cover its operating expenses.
Operating expenses, primarily employee costs and other expenses, have persisted despite the absence of meaningful revenue. Employee costs have fluctuated slightly, peaking at ₹0.11 crore in 2024 before declining to ₹0.04 crore in 2025. Other expenses have shown a rising trend, reaching ₹0.31 crore in 2025 from ₹0.07 crore in 2024. Consequently, total expenditure excluding depreciation has increased, culminating in a deficit that has widened over the years.
Operating profit before depreciation and interest has consistently been negative, with losses deepening to ₹0.35 crore in 2025. The absence of other income has meant no offset to these losses. Interest expenses, although relatively low, have increased to ₹0.08 crore in 2025, further pressuring profitability. The company has not reported any depreciation expenses, indicating limited or no capital asset base requiring amortisation.
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Profitability and Earnings
Profit before tax has mirrored operating losses, with the company reporting a loss of ₹0.35 crore in 2025, worsening from ₹0.12 crore in 2024. No tax provisions have been recorded, consistent with the negative earnings. The net loss after tax has followed the same trajectory, reflecting the company's ongoing struggle to generate profits.
Earnings per share (EPS) have been negative throughout the period under review, with the EPS declining to -₹0.74 in 2025 from -₹0.26 in 2024. Diluted EPS figures align closely with basic EPS, indicating no significant dilution effects. The operating profit margin and PAT margin have remained at zero or negative values, underscoring the absence of profitability.
Balance Sheet and Financial Position
Pasupati Fincap's balance sheet reveals a stable equity capital of ₹4.70 crore across all years, with a consistent face value of ₹10 per share. However, reserves have been negative and deteriorating, reaching -₹5.30 crore in 2025, which has resulted in negative shareholder funds of -₹0.60 crore in the same year. This indicates accumulated losses exceeding the paid-up capital, a sign of financial distress.
The company has no long-term or short-term borrowings, suggesting a debt-free capital structure. Non-current liabilities have marginally increased to ₹0.60 crore in 2025, primarily due to other long-term liabilities. Current liabilities have also risen, doubling from ₹0.33 crore in 2024 to ₹0.66 crore in 2025. Total liabilities have decreased significantly from ₹0.91 crore in 2020 to ₹0.05 crore in 2025, reflecting a shrinking balance sheet.
On the asset side, Pasupati Fincap holds minimal non-current assets, with total non-current assets valued at ₹0.65 crore in 2025, down from ₹0.41 crore in 2020. Current assets have effectively diminished to zero in 2025, with sundry debtors and cash balances negligible or nil. The total assets have contracted sharply from ₹0.92 crore in 2019 to just ₹0.05 crore in 2025, indicating a significant reduction in the company's asset base.
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Cash Flow and Liquidity
Cash flow statements indicate no significant inflows or outflows over the years, with operating, investing, and financing activities all reporting zero cash movements in recent periods. Opening and closing cash and cash equivalents have been negligible, with a small balance of ₹0.03 crore noted in earlier years but none in the latest fiscal year. This lack of cash flow activity suggests limited operational engagement and liquidity challenges.
Summary
In summary, Pasupati Fincap has experienced a prolonged period of minimal revenue generation and sustained losses, reflected in negative profitability margins and declining shareholder equity. The company’s asset base and liabilities have both contracted significantly, while cash flow remains stagnant. These factors collectively highlight the financial difficulties faced by the company, underscoring the need for strategic turnaround initiatives to restore operational viability and investor confidence.
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