With reference to the above, we wish to inform you that the board of directors of the company in the meeting held at May 22, 2025 to discussed the agendas items as attached hereunder.
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The board approved audited financial results for FY ended March 31, 2025. Revenue from operations rose about 23% to Rs 44.47 lakh (from Rs 36.25 lakh), but the company posted a net loss of Rs 3.82 lakh, narrower than the Rs 9.85 lakh loss in the prior year. About 92% of total assets (Rs 1,643 lakh) sit in non-moving inventory, and the auditor issued a Disclaimer of Opinion, citing missing documents for Rs 113.67 lakh of investments, an unprovided income tax demand of Rs 357.63 lakh from AY 2017-18, and reliance on a May 2023 valuation report for current inventory. The auditor also flagged material uncertainty about the company's ability to continue as a going concern, though management plans to shift to an asset-light model. Separately, three directors were regularised, a new secretarial auditor and internal auditor were appointed.
Shareholders should view this as a high-risk filing: persistent losses, a disclaimer of opinion (auditor could not form an opinion), a large unprovided tax demand, and a going-concern warning tied to nearly all assets being illiquid inventory. The stock is likely to face negative sentiment, though the loss has narrowed and revenue grew.