Corporate Performance     

Published: November 15, 2024
Updated: November 15, 2024

Srestha Finvest Ltd

Half-time performance cheers: Revenues shoot up 883.51% yoy

Srestha Finvest Ltd. (BSE: 539217), a leader in financial solutions, has announced its earnings for the quarter and half year ended 30 September 2024

For the quarter ended 30 September 2024, revenue from operations grew by 70.31% from Rs. 210.21 lakhs in Q2FY24 to Rs. 357.98 lakhs in Q2FY25. For half year ended 30 September 2024, revenue from operations grew by 883.51% from Rs. 438.02 lakhs in H1FY24 to Rs. 4307.99 lakhs in H1FY25. PAT increased to Rs. 1619.12 lakhs in H1FY25.

Earlier, the board approved the raising of funds by way of issuance of equity shares for an aggregate amount not exceeding Rs.100 crores subject to the receipt of the necessary approvals including the approval of the members of the company and other regulatory / statutory approvals. The board had then further approved issue up to 93 Cr convertible at issue price of Rs. 1.05 per warrant to the Investors on preferential basis, subject to Shareholders and other necessary approvals.

The company announced that in continuation of existing business arrangement between Srestha Finvest Ltd. (Srestha) and Felix Industries Ltd. (Felix) have yet again joined hands through the signing of a Facility Agreement aimed at advancing renewable energy and sustainability initiatives where in Srestha would extend further towards lending in renewable energy and clean water related projects aimed at sustainable development.

Through this fresh agreement, Felix shall secure funding for capital work of plant installation for the order procured by Felix with Aarti Industries Ltd for renewable energy, clean water and water recycle related project for the tune of about Rs. 50 million in total to be funded in two phases. With a aim to further provide robust financial support to a diverse in to renewable energy and water segment, fostering sustainability and marking a significant move towards green environment and sustainable projects this arrangement would strengthen the financial support to Felix.

Previously, the company announced that it has joined hands with Felix Industries Ltd. (Felix) through the signing of a Facility Agreement aimed at advancing renewable energy and sustainability initiatives. The Facility Agreement comprises various provisions aimed at enhancing support for renewable Energy and sustainability related projects. Srestha will fund Rs. 250 million for targeting the above mission in next 1-2 years and also expand its footprint in new technology sectors.

Srestha Finvest Ltd. is a leader in the field of financial solutions, offering comprehensive solutions to both individuals and businesses. In an Indian financial landscape predominantly reliant on traditional financing avenues, Srestha Finvest recognizes the gaps that stem from a lack of specialized players in the sector. The company, observing the absence of structured financial solutions, limited skill sets, and regulatory constraints that restrict tailored offerings from financial institutions, discerns an opportunity to innovate and deliver customized solutions. Focusing on the Lending Business segment, Srestha Finvest is committed to providing specialized and comprehensive solutions to both Indian corporates and individuals, nurturing and empowering their growth endeavors.

The company prioritizes structured credit products supported by robust cash flows, ensuring a secure and high-quality wholesale lending portfolio. Within the Wholesale Lending Business, the company facilitates diverse credit solutions encompassing project funding, mezzanine financing, acquisition financing, bridge financing, working capital requirements, and personal finance, among others.

With a vision to expand and diversify its business verticals, Srestha Finvest aspires to emerge as a comprehensive hub, offering all-encompassing solutions for finance and investment-related products. The securities of the company are listed on BSE.