Annual Report of Blueblood Ventures Limited for the Financial Year 2024-2025
Awaiting price reaction for this filing.
Blueblood Ventures Limited filed its 18th Annual Report for FY 2024-25. Total revenue rose to Rs 80.08 lakh from Rs 53.93 lakh (up about 48%), but this was almost entirely driven by a jump in 'other income' to Rs 30.06 lakh from Rs 2.78 lakh, while core sales and services actually dipped slightly to Rs 50.02 lakh from Rs 51.15 lakh. Profit after tax fell sharply to Rs 59,000 from Rs 2.44 lakh. No dividend was declared. The statutory auditor flagged two Emphasis of Matter items: pending confirmations on debit advances of about Rs 31.21 crore, and 247 Zero Coupon Convertible Debentures (worth about Rs 24.7 crore) of Devoted Construction Ltd that were wrongly transferred to another party and are being recovered. The company also did not appoint an internal auditor for FY 2024-25 as required under Section 138 of the Companies Act.
Shares remain suspended from trading on BSE since November 2022 due to SEBI non-compliance, with the revocation application still pending, so shareholders have no liquidity. The shrinking profit, dependence on non-core income for top-line growth, and auditor-emphasised issues around large unrecovered advances and misplaced investments point to weak operational health and lingering governance concerns.