Outcome of Board Meeting dated 28 May 2025
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The board approved audited standalone and consolidated financial results for Q4 and FY ended March 31, 2025, with an unmodified (clean) auditor opinion from S S Kothari Mehta & Co. LLP. Standalone revenue from continuing operations grew to Rs 2,234.06 lakhs (vs Rs 1,447.13 lakhs restated in FY24). However, the company reported a massive standalone loss after tax of Rs (36,634) lakhs for FY25 (vs a profit of Rs 4,629 lakhs in FY24), driven almost entirely by a one-time exceptional loss of Rs (37,494) lakhs arising from the demerger of its Insoluble Sulphur & Chemicals manufacturing business into OCCL Limited (effective July 1, 2024), treated as discontinued operations under Ind AS 105. Operating cash flow remained positive at Rs 628 lakhs. The board also approved voluntary delisting from NSE, appointed a new additional director (Mrs. Mitali Gupta), re-appointed internal auditor, appointed a new secretarial auditor, and approved shifting the registered office from Gujarat to another state.
The headline loss is a non-cash, one-time accounting effect from the demerger and does not reflect ongoing business health — continuing operations remain profitable (PBT of Rs 487.56 lakhs). Shareholders should note the voluntary delisting from NSE, which may reduce liquidity for those trading on NSE, and the proposed registered office shift.