40th Annual Report of N2N Technologies Limited for the financial year ended March 31, 2025
Awaiting price reaction for this filing.
N2N Technologies filed its 40th Annual Report and AGM Notice with the 40th AGM scheduled for December 30, 2025 via video conferencing. The company reported a wider loss for FY25 with total income declining to Rs. 141.12 lakh (from Rs. 161.43 lakh in FY24) and a pre-tax loss of Rs. 26.89 lakh versus Rs. 3.47 lakh last year. No dividend was declared due to the losses. The statutory auditor flagged several qualifications including non-appointment of an Internal Auditor, weak Internal Financial Controls, unpaid professional tax and TDS liabilities, and a historical Section 185 loan to DSR Infotech (former subsidiary). The company also failed to register for GST in time, leading to about Rs. 1.12 crore of un-reported export turnover. Additionally, trading in the company's shares is currently suspended on BSE due to unpaid annual listing fees, which the board expects to clear and resume trading by December 31, 2025. The company also has no Independent Director on its board.
For shareholders, this is a negative signal: the business is shrinking, losses are widening, share trading is suspended, and there are multiple regulatory and compliance lapses (tax defaults, GST issues, no Independent Director, weak internal controls). Investors should expect continued thin liquidity and elevated risk until the listing fees are paid and the company returns to profitability.