Audited Financial result March 2025
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Awaiting price reaction for this filing.
The company, now renamed Afloat Enterprises Limited (formerly Adishakti Loha and Ispat Limited), filed its audited standalone financial results for the year and half year ended March 31, 2025. Statutory auditor V.N. Purohit & Co. issued an unmodified (clean) opinion on the annual results, and the CFO submitted the required declaration confirming the same. The board also approved a related party transaction disclosure (Regulation 23(9)), confirmed no deviation in the use of Rs. 2.56 crore raised from the preferential issue of 80 lakh warrants, and appointed new secretarial auditor (G Aakash & Associates for 5 years) and internal auditor (Shweta Goel & Co for FY26). The cash flow statement indicates negative net cash from operating activities for the year, and the company received 25% upfront subscription money on the warrants with the balance due upon conversion.
A clean audit opinion is positive for investor confidence. However, negative operating cash flow and the change in auditors may warrant attention. No immediate material change indicated for shareholders.