Audited Standalone and consolidated financial results for the quarter ended 31st March 2025
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Abate AS Industries Ltd (formerly Trijal Industries Ltd) reported audited FY25 results with a sharp turnaround. On a standalone basis, the company swung from a loss of Rs 91.12 lakhs in FY24 to a profit after tax of Rs 54.33 lakhs in FY25, with total income of Rs 97.04 lakhs. On a consolidated basis (first time reported, post-subsidiary acquisitions), total revenue was Rs 1,505.29 lakhs and profit after tax was Rs 110.05 lakhs, with EPS of Rs 0.14. During the year, the company issued 7.37 crore equity shares on a preferential basis via share swap, ballooning equity capital from Rs 5.01 crore to Rs 78.80 crore and bringing in three subsidiaries and one associate. The board also appointed three new independent directors and re-designated some existing directors. The statutory auditor (Mahesh C. Solanki & Co.) issued an unqualified opinion on both results.
Positive in terms of headline profitability turnaround and the strategic expansion into subsidiaries, but operating cash flows remain negative on both standalone (Rs -42.41 lakhs) and consolidated (Rs -71.18 lakhs) bases, signalling that profits are not yet backed by cash generation. The massive share issuance has heavily diluted existing shareholders, though it was used to acquire operating subsidiaries rather than raise cash for losses.