This is to inform you that a minor typographical error was identified in the statement on impact of Audit Qualifications (Annexure B) submitted along with the outcome of the board of directors ....
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The board approved audited standalone results for FY ended March 31, 2025. Total income fell sharply to Rs 1,359.79 lakhs from Rs 4,281.13 lakhs in FY24, a drop of about 68%. The company swung back to profit with PAT of Rs 30.58 lakhs versus a loss of Rs 252.40 lakhs last year, giving EPS of Rs 0.68 (vs loss per share of Rs 4.43). Property, plant and equipment jumped to Rs 4,360.60 lakhs from Rs 1,268.77 lakhs, indicating a major capacity expansion. The statutory auditor issued a Qualified Opinion citing four issues: unpaid MSME interest of Rs 0.57 lakhs, unprovided GST demand of Rs 20.70 lakhs (under appeal), unreconciled trade balances, and non-provisioning of doubtful debts of Rs 11.45 lakhs. An Emphasis of Matter noted that accumulated losses had wiped out net worth (negative Rs 465.79 lakhs), though a preferential allotment of Rs 1,965 lakhs on May 8, 2025 has restored positive net worth. The company also appointed a new secretarial auditor (five-year term) and internal auditor (three-year term).
The return to profitability is a positive signal, but the steep revenue drop, negative net worth before the recent capital infusion, and a qualified audit opinion flag underlying weaknesses. Existing shareholders should keep an eye on whether the new capacity drives a revenue rebound and whether the auditor's qualifications are cleared in coming years.