Annual Report for the financial year ended 31st March 2025
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India Infraspace Limited reported zero revenue from operations for FY 2024-25, same as the previous year. Other income increased to Rs. 7.83 Lakhs from Rs. 2.75 Lakhs, but total expenses surged to Rs. 31.20 Lakhs (vs Rs. 4.68 Lakhs), resulting in a net loss of Rs. 23.37 Lakhs compared to a loss of Rs. 1.93 Lakhs in the prior year - a 12x worsening. The company has no employees on its payroll. The auditor issued an Emphasis of Matter noting that Rs. 33.19 Lakhs in pre-operative expenses should be written off (understating losses), and flagged non-charging of interest on loans to related parties as a violation of Section 186. The company granted loans of Rs. 392.85 Lakhs to related parties at zero interest. Related party transaction of Rs. 4.58 Lakhs with Mukta Automation Private Limited was disclosed.
The company is essentially non-operational with zero revenue and mounting losses, raising serious concerns about its viability. The auditor's emphasis of matter items suggest potential financial statement manipulation and regulatory non-compliance, which could negatively impact shareholder value.