Annual Report
Awaiting price reaction for this filing.
The company has submitted its 32nd Annual Report for FY 2024-25 along with the notice of the 32nd Annual General Meeting, scheduled for September 30, 2025 at 11:00 AM via video conferencing. Total income for the year declined to ₹793.70 lakhs from ₹979.91 lakhs in the previous year, while the company reported a loss of ₹2,528.52 lakhs (compared to a profit of ₹90,520.06 lakhs in FY23-24, which was largely driven by one-time exceptional items from the IBC liquidation). The liquidation proceedings under the Insolvency and Bankruptcy Code, which closed on February 4, 2025, are now complete, and the Liquidator Mr. Kshitiz Gupta has been discharged. No dividend has been recommended. The board is seeking shareholder approval to appoint M/s. Shrenik Nagaonkar & Associates as Secretarial Auditors for a five-year term (FY25-26 to FY29-30), and Mr. Deepak C. Choudhari is being re-appointed as Managing Director (retiring by rotation).
This is primarily a routine annual compliance filing, but the financials highlight ongoing operational weakness — declining revenues and continued losses. Shareholders should note that no dividend will be paid, the company emerged from IBC liquidation only recently, and there has been a change in CFO (Mr. Sachin S. Diwan replaced Mr. Shrenik D. Choudhari in mid-2025).