Richfield Financial Services Reports Q1 FY2026 Results; Confirms Funds Utilization
Richfield Financial Services Ltd. released its audited Standalone Financial Results for the quarter and year ended March 31, 2026, confirming compliance regarding financial discrepancies observed by BSE Limited. The company reported key performance metrics across operating activities and provided an update on funds raised through a preferential allotment of equity shares.The results were audited by A. John Moris & Co., Chartered Accountants, and subsequently approved by the Board of Directors on May 26, 2026, with the Statutory Auditors expressing no modified opinion in their Audit Report.
Financial Performance Snapshot (As at March 31, 2026)
The company’s financial standing showed significant changes between the audited figures for FY 2025 and the results reported for Q/FY 2026.Key components of the Standalone Financial Results are summarized below:
| Particulars | Mar 31, 2026 (Audited) | Mar 31, 2025 (Audited) |
|---|---|---|
| Total Income | 130628 | 46.23 43733 |
| Profit/(loss) for the period | 3245 2059 | 1350 |
| Net Cash Inflow in Operating Activities (in Lakhs) | -4,732.46 | -2,072.40 |
| Closing Cash and Cash Equivalents (in Lakhs) | 298.64 | 178.73 |
Balance Sheet and Capital Structure
As of March 31, 2026, the financial structure included the following details:| Particulars | Value (Rs in Lakhs) |
|---|---|
| Cash and cash equivalents | 298.64 |
| Loans | 7,692.01 |
| Fixed Deposit | 132.96 |
| Total Assets | 8,455.28 |
| Equity Share Capital | 965.62 |
Compliance and Governance Updates
Richfield Financial Services confirmed that the financial results were duly signed by Managing Director Vadasseril Chacko Georgekutty after incorporating his name and designation onto the Financial Results page to address previous observations from BSE Limited. The company reported that no changes other than those necessary for clarity had been made to the financial results.The company also issued a declaration stating that the Audit Standalone Financial Statements for the fiscal year ended March 31, 2026, received an unmodified opinion in their audit report.
Regarding its size and financial standing, the company declared that certain corporate governance provisions were non-applicable based on regulatory thresholds, noting that its paid up equity share capital was Rs.9,65,62,000/- and net worth was Rs.14,16,09,175/-, as per the last audited financial statements as of March 31, 2026.
Funds Utilization Statement
The company provided a statement regarding the utilization of funds raised through Preferential Allotment of Equity Shares on March 10, 2026. The total amount raised was Rs 5,39,00,000.00. The Statement of Deviation or Variation indicated that there was no deviation in the use of funds, confirming that the funds were utilized according to their original objects.This information was reviewed by the Audit Committee at its meeting held on May 26, 2026.
Stock Price Movement
Richfield Financial Services Ltd settled at ₹24.16 on Friday, completing the session with a decline of 8.14%. The shares experienced a wide intraday movement, touching lows near ₹24.00 but briefly climbing toward a high of ₹28.15.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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