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Awaiting price reaction for this filing.
Add-Shop E-Retail reported FY25 revenue of ₹15,512.95 lakhs, down about 23.6% from ₹20,306.29 lakhs in FY24. Profit after tax rose modestly to ₹331.79 lakhs (from ₹315.71 lakhs), with EPS of ₹1.17. The auditor issued an unmodified (clean) opinion, but flagged several concerns: trade receivables of ₹9,610.97 lakhs equal nearly 75% of annual revenue (very high debtor holding period), large material related-party transactions involving Managing Director Dinesh Kumar Pandya (₹33.75 crore deposited, partly settled against Dada Organics), a barter-based purchase activity, GST input tax credit reconciliation issues, and a pending SEBI interim order/show cause notice. Operating cash flow was deeply negative at ₹(1,000.60) lakhs (FY24: ₹(1,868.96) lakhs), funded by a sharp jump in short-term borrowings from ₹1,220 lakhs to ₹3,760 lakhs. Cash balance fell to just ₹38.79 lakhs.
Despite a clean audit opinion, the sharp revenue drop, stretched receivables, negative operating cash flow, and rising short-term debt signal working-capital stress. Shareholders should monitor collection of receivables, the outcome of the SEBI notice, and any further related-party dealings, as these pose the main risks to the stock.