Akshar Spintex Limited has informed the Exchange regarding Outcome of Board Meeting held on May 10, 2025.
AKSHAR · price
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Akshar Spintex reported audited results for FY25 with revenue from operations falling sharply to Rs. 11,676.91 lakhs from Rs. 17,495.51 lakhs in FY24, a decline of about 33%. The company swung to a loss after tax of Rs. 444.81 lakhs in FY25 compared to a profit of Rs. 345.51 lakhs in FY24. Q4 FY25 also posted a loss of Rs. 114.26 lakhs versus a profit of Rs. 95.75 lakhs in the year-ago quarter, with EPS at negative Rs. 0.08 for the year. The auditor issued an unmodified opinion but flagged emphasis of matter on non-verification of inventories and debtor/creditor balances, a 6-day delay in bank loan repayment, and non-payment of certain statutory dues like professional tax. Operating cash flow was deeply negative at Rs. (2,957.16) lakhs, though the company raised Rs. 4,874.80 lakhs via a rights issue completed in October 2024 to shore up liquidity.
Shareholders face a significant deterioration in fundamentals — revenue contraction, swing to losses, and negative operating cash flow point to serious business stress. The auditor's emphasis of matter on loan repayment delays and unpaid statutory dues adds to governance concerns, though the rights issue provides near-term liquidity cushion.