Incred Holdings announced its FY24 results

Financial Performance:

Total revenue of Incred Holdings increased to Rs.4.9 Cr from Rs.1.1 Cr in the previous year. The company reported a loss of Rs.4.8 Cr after tax, compared to Rs.1 Cr in the last year. As a holding company, it has seen a 21% growth in its asset base to Rs.3,009 Cr in FY24.

Operational Development:

In FY24, the company raised ₹500 crores through a preferential issue by issuing 37,037,037 equity shares at ₹135 per share. During the year, employees exercised 9,545,137 stock options under the Employee Stock Option Scheme. On September 13, 2023, Mr. Gaurav Trehan resigned as a Non-Executive Director and was succeeded by Mr. Anil Nagu. Additionally, Ms. Nikita Shetty was appointed as the Company Secretary and Compliance Officer, replacing Mr. Gajendra Thakur. The company also appointed Deloitte Haskins & Sells as the new Statutory Auditor, replacing S.R. Batliboi & Associates LLP, in alignment with the auditors of other group companies.