Announcement of Audited Financial Results under Ind AS for year ended on 31st March 2025 as per regulation 33 of the SEBI (LODR) Regulation 2013
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Turner Industries Limited (formerly associated with Laser Diamonds Ltd branding) reported audited results showing zero revenue from operations for the full year ended March 31, 2025, with the company engaged only as a property developer. Total expenses stood at Rs 2.64 lakhs (FY24: Rs 3.28 lakhs), resulting in a net loss of Rs 2.64 lakhs for FY25, narrower than the Rs 3.28 lakh loss in FY24. Loss per share improved slightly to Rs (0.07) from Rs (0.08) previously. The balance sheet shows very weak fundamentals: cash and equivalents of just Rs 0.81 lakhs, borrowings of Rs 37.80 lakhs (up from Rs 35.54 lakhs), and deeply negative other equity of Rs (388.92) lakhs against share capital of Rs 401.31 lakhs. The auditor issued an unqualified (clean) opinion on the Ind AS results.
The company is effectively non-operational with no revenue, persistent losses, negative reserves, and minimal cash on hand, raising serious going-concern concerns for shareholders despite the auditor's clean opinion. Stock remains a high-risk, thinly-traded penny stock with no clear path to profitability.