Ontic Finserve Limited (formerly known as **Maral Finance Limited**) is an Indian listed entity currently undergoing a radical structural and strategic transformation. Historically a finance-focused firm, the company has recently expanded its constitutional business objects to operate as a multi-sector conglomerate while simultaneously overhauling its capital structure to facilitate aggressive growth. --- ### **Corporate Evolution & 100% Public Ownership Structure** In a significant move for a listed Indian entity, Ontic Finserve transitioned to a **100% Public Shareholding** structure in **February 2024**. This followed the formal reclassification of its promoters, leaving the company with no shares held under the 'Promoter and Promoter Group' category. **Shareholding Pattern (Post-February 2024 Reclassification):** | Particulars | Pre-Reclassification | Post-Reclassification | | :--- | :--- | :--- | | **Promoter Holding** | **0 Equity Shares (0%)** | **0 Equity Shares (0%)** | | **Public Holding** | **9,00,03,000 Equity Shares (100%)** | **9,00,03,000 Equity Shares (100%)** | | **Total Paid-up Capital** | **9,00,03,000 Equity Shares** | **9,00,03,000 Equity Shares** | --- ### **Strategic Pivot: Multi-Sector Operational Framework** The company has amended its **Memorandum of Association (MoA)** to expand its "Main Objects," allowing it to operate across a diverse array of high-growth industries. This diversification strategy transforms Ontic into a multi-sector trading and manufacturing house. #### **1. Gems, Jewelry & Precious Metals** * **Core Activities:** Trading, manufacturing, and processing of **Gold, Silver, Platinum, Diamonds**, and precious stones. * **Technical Scope:** Operations include cutting, polishing, cleaving, and assaying of rough and polished stones. * **Distribution:** Retail and wholesale distribution of jewelry, watches, and luxury accessories, including the establishment of **virtual malls** and **e-retail trading** platforms. #### **2. Information Technology & Digital Services** * **Software Development:** Customization, implementation, and maintenance of **Enterprise Resource Planning (ERP)** solutions and e-commerce platforms. * **IT Enabled Services (ITES):** Call center management, medical/legal transcription, and data warehousing. * **Emerging Tech:** Consultancy in **Artificial Intelligence (AI)** and Natural Language Processing. * **Infrastructure:** Managed data centers and network management services. #### **3. Textiles, Apparel & Hosiery** * **Manufacturing:** Dealing in all fabric types including **Cotton, Silk, Jute, Rayon, and Synthetics**. * **Value-Add Services:** Dyeing, printing, embroidery, bleaching, and tailoring. * **Product Range:** Sarees, suitings, shirtings, and hosiery. #### **4. Pharmaceuticals & Chemicals** * **Life Sciences:** Trading and manufacturing of **Bulk Drugs, Active Pharmaceutical Ingredients (API)**, vaccines, and diagnostics. * **Alternative Medicine:** Dealing in Ayurvedic, Homeopathic, and Herbal healthcare products. * **Industrial Chemicals:** Trading in organic and inorganic intermediates. #### **5. Agriculture, Commodities & Mining** * **Agri-Trade:** Trading in seeds, fertilizers, pesticides, and animal feeds. * **Natural Resources:** Mining and dealing in minerals such as **Coal, Lignite, Bauxite, Iron, and Copper**. --- ### **Capital Restructuring & Fundraising Roadmap** To support its expanded business scope, Ontic Finserve is executing a multi-step capital overhaul designed to clean the balance sheet and attract new investment. * **Capital Reduction:** The company approved an **80% reduction** in issued and paid-up share capital, decreasing it from **₹9,00,03,000** to **₹1,80,00,600**. This move is typically aimed at writing off accumulated losses and aligning the capital base with realistic asset values. * **Authorized Capital Increase:** To facilitate future equity issuance, the company proposed increasing its authorized capital from **₹10 Crore** (10 crore shares) to **₹60 Crore** (60 crore shares) at a par value of **₹1/-**. * **Rights Issue:** The Board has approved raising up to **₹49 Crore** through a **Rights Issue** of equity shares. A dedicated **Rights Issue Committee** has been formed to manage the allotment process. * **Leadership:** The company regularized the appointment of **Mr. Vishwambar Kameshwar Singh** as **Executive Director** to lead this transition. --- ### **Financial Performance & Asset Allocation** Financial data for the period ending **March 31, 2025**, reveals a significant recovery and a pivot toward active credit operations. **Comparative Financial Summary (₹ in Lakhs):** | Particulars | As at 31/03/2025 | As at 31/03/2024 | | :--- | :--- | :--- | | **Total Assets** | **396.70** | **184.36** | | **Total Equity** | **310.94** | **180.00** | | **Other Equity (Reserves)** | **(589.09)** | **(720.03)** | | **Current Loans (Assets)** | **335.85** | **175.50** | | **Current Liabilities** | **85.66** | **4.24** | | **Cash & Equivalents** | **3.46** | **5.01** | **Key Financial Observations:** * **Turnaround Indicators:** The company reduced its negative reserves from **(720.03) Lakhs** to **(589.09) Lakhs**, signaling a profitable turnaround in **FY 2024-25**. * **Asset Growth:** Total assets grew by **115%** year-on-year, driven by a sharp increase in the **Current Loans** portfolio (up from **175.50 Lakhs** to **335.85 Lakhs**). * **Liability Profile:** Current liabilities rose to **85.66 Lakhs**, primarily due to new **Short-term Borrowings (35.00 Lakhs)** and increased **Provisions (50.66 Lakhs)**. * **Audit Status:** Statutory auditors **KM Chauhan & Associates** issued an **Unmodified Opinion** for the year ended March 31, 2025. --- ### **Risk Profile & Regulatory Compliance** Ontic Finserve operates in a high-volatility environment, with its primary current revenue stream tied to the **Trading of Securities**. * **Market Risks:** * **Interest Rate Risk:** Exposure to fair value changes in **debt-oriented mutual funds**. * **Price Risk:** Vulnerability to market price movements within the securities portfolio. * **Liquidity Risk:** Managed through **committed credit lines** and maintaining cash balances. * **Regulatory History:** * **SEBI Warning:** In **February 2024**, the Stock Exchange issued a warning regarding a **5-day delay** in disclosing the promoter reclassification application, a violation of **Regulation 31A(8)(c)** of **SEBI (LODR) Regulations, 2015**. * **Compliance:** The company reports **zero delays** in payments to **Micro and Small Enterprises (MSMED Act, 2006)**. * **Concentration Risk:** Currently, the entity remains a **single-segment company** focused on securities trading, though the MoA expansion aims to mitigate this through diversification. --- ### **Operational Capabilities & Global Reach** * **Trade Status:** Authorized to act as an **Export House** and **Trading House** for international operations. * **Distribution Channels:** Utilizes a network of agents, brokers, C&F agents, and **multi-level marketing** channels. * **Specialized Research:** Capability to provide technical know-how in specialized fields, including **Vedic methodology** and advanced AI research.