Submission of Annual Report for the Financial Year 2024-25
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7NR Retail Limited has submitted its Annual Report for FY 2024-25 along with the notice of its 13th AGM to be held on 10th September 2025 via video conferencing. Revenue from operations rose sharply to Rs. 2,146.91 lakhs from Rs. 1,162.16 lakhs in FY 2023-24, an increase of around 85%. The company swung to a pre-depreciation profit of Rs. 22.95 lakhs compared to a loss of Rs. 88.57 lakhs the previous year. Key agenda items include re-appointment of Managing Director Chetan Kumar Ojha, appointment of SSRV & Associates as statutory auditor for 5 years, and regularization of Independent Director Krishna Hareshbhai Bhatt. Notably, the company is seeking shareholder approval to cancel a previously approved doubling of authorized share capital because its planned Rs. 28 crore rights issue failed to meet the 90% minimum subscription threshold and has been called off.
Positive turnaround in operations with strong revenue growth and a return to profitability is encouraging for shareholders. However, the cancellation of the rights issue and the corresponding capital increase plan signals that the company could not raise fresh equity, which may limit growth funding and is a negative signal for investor confidence in the near term.