Revised Annual report for the Financial Year 2023-24 submitted due to Exchange Query
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AA Plus Tradelink Limited submitted its revised 8th Annual Report for FY 2023-24 to BSE, resubmitted due to an exchange query. The company's revenue from operations grew to Rs. 19.95 crore from Rs. 16.32 crore in the previous year, while profit after tax more than doubled to Rs. 51.28 lakh from Rs. 20.54 lakh. Basic and diluted EPS rose to Rs. 0.63 from Rs. 0.25. No dividend was declared, with profits being reinvested into the business. The 8th Annual General Meeting is scheduled for September 28, 2024, at 12:00 PM in physical mode at Vile Parle East, Mumbai. The company also disclosed a rights issue opened in April 2024, offering up to 1.63 crore partly paid-up equity shares at Rs. 18 per share (Rs. 10 face value plus Rs. 8 premium) in a 2:1 ratio, aggregating up to Rs. 29.39 crore. Additionally, statutory auditor M/S C.P. Lodha & Company resigned effective November 20, 2023, with M/S Choudhary Choudhary & Co. appointed in their place.
Stronger top-line growth and more than doubled profit signal improved operational performance for shareholders. The Rs. 29.39 crore rights issue could lead to equity dilution, while the auditor change and no dividend declaration are minor negatives for income-focused investors.