Dear Sir, This is to inform you that the Board of Directors of the Company at its Meeting held on, Thursday May, 15th, 2025 have inter alia considered and approved; 1. Unaudited Financial ....
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The board approved audited standalone and consolidated financial results for the quarter and year ended March 31, 2025. On a consolidated basis, revenue from operations surged to ₹5,809.63 lakhs in FY25 from just ₹39.40 lakhs in FY24, with net profit of ₹188.29 lakhs versus a loss of ₹2.19 lakhs in the previous year. This dramatic jump is almost entirely due to the consolidation of newly acquired subsidiary Banganga Paper Mills Limited (acquired July 9, 2024), not organic growth. On a standalone basis, the parent company itself reported a net loss of ₹15.58 lakhs (worse than the ₹2.19 lakh loss in FY24) on negligible revenue of ₹39.40 lakhs. The board also approved the appointment of Ritika Agarwal as the new Practicing Company Secretary for secretarial audit work. The statutory auditors (Jain Chhajed & Associates) issued an unmodified (clean) opinion on both sets of results.
For shareholders: the headline profit turnaround is driven by subsidiary consolidation rather than core business improvement—the standalone parent remains loss-making. Additionally, consolidated operating cash flow was negative at ₹(235.81) lakhs despite the reported accounting profit, signaling working capital strain and that earnings have not yet translated into cash. Stock price may react cautiously given the quality of the earnings.