1. Considered, approved and taken on record the Audited Financial Results of the Company for the quarter and year ended on March 31, 2025 along with Auditor's Reports (modified Opinion) ....
Awaiting price reaction for this filing.
The board approved audited financial results for Q4 and FY ended March 31, 2025, along with a Statement on Impact of Audit Qualifications. The company reported a total income of Rs 1,888.89 lakhs, total expenditure of Rs 1,623.45 lakhs, and a net profit of Rs 215.65 lakhs (EPS of Rs 0.15), swinging to profitability from a loss in the previous year. Total assets stood at Rs 2,120.97 lakhs and net worth improved to Rs 1,270.21 lakhs. However, the auditor issued a Qualified Opinion with Emphasis of Matter, flagging 5 major concerns: missing invoices and balance confirmations for trade receivables/payables, absence of audit trail in the accounting software, non-depreciation of fixed assets till Q2 FY25 with values based only on management certification, inventory not independently verified, and missing supporting documents for rent and office expenses. Four of these five issues have been continuing since FY 2023-24, signalling persistent governance weaknesses. Operating cash flow was negative at Rs (570.43) lakhs.
While the swing to profitability and improving net worth are positives, the long list of repeated audit qualifications and the negative operating cash flow raise serious concerns about the reliability of the reported numbers and internal controls. Shareholders should treat the headline profit figure with caution until the company addresses these recurring auditor concerns.