Quiting below from an article on money control pro on fusion finance
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The lender’s biggest trump card is its promoters, mainly Warburg Pincus. The board has approved a rights issue, which shows that the promoters are willing to back the firm. While analysts have played down the auditor’s worry of remaining a going concern, they have flagged the threat to profitability in the near future. “Factoring in the sharp deterioration in asset quality and impact on growth/margins, we expect Fusion to report loss in FY25E, while recovery over FY26-27E should also be slow,” analysts at Emkay Global Financial Services Ltd wrote in their note.
Fusion cannot regain the faith of its investors by flaunting its promoters’ pedigree alone. The lender would have to bring down its problematic loans significantly in the coming quarters. It also must dispel the uncertainty surrounding its top management. The current chief Devesh Sachdev will step down from his executive role and take on chairmanship once a new chief executive is appointed. As such, the top management has seen changes with chief operating officer Tarun Mehndiratta having been replaced with Sunil Mundra. The new chief executive and his fellow executives will need to prove their mettle too. “
Looks like things are moving to get it back on its feet at fusion finance
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