1. AUDITED FINANCIAL RESULTS 2. STATEMENT OF DEVIATION OR VARIATION UNDER REGULATION 32 OF SEBI (LODR) REGULATIONS, 2015 3.The Board of Director have considered and approved the appointment ....
Awaiting price reaction for this filing.
The board approved audited financial results for Q4 and FY ended March 31, 2025. On a standalone basis, the company reported a loss of about Rs 66.23 lakhs for FY25 with EPS of (Rs 3.74), and total income of just Rs 9.62 lakhs. The company's own notes flag that there is 'a doubt about the realisation of financial assets including debtors and other loans and advances' and that 'the company may not be capable of meeting its liabilities existing at the date of balance sheet', which is a serious going concern warning. The company has also not recognised interest expense on unsecured borrowings. Cash flow from operations was deeply negative at Rs (2,044.19) lakhs for FY25. Separately, statutory auditor M/s Ashish Khandelwal & Co resigned on June 3, 2025 citing 'unavailability of the auditor', and M/s VRSK & Associates was appointed as the new statutory auditor the very next day.
This is a deeply negative filing for shareholders: the company itself admits it may not be able to meet its existing liabilities, losses are mounting, and operating cash burn is severe. The mid-year auditor change — where the previous auditor resigned citing 'unavailability' just a day before a new auditor was appointed — also raises governance red flags that could weigh on the stock.