Copy of the Annual Report 2024-25
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Awaiting price reaction for this filing.
Tridev Infraestates Limited (formerly Ashutosh Paper Mills) filed its Annual Report for FY 2024-25. Revenue from operations fell to about Rs 27.31 lakh from Rs 33.70 lakh last year, a decline of roughly 19%. Profit before tax dropped sharply to Rs 3.05 lakh from Rs 8.08 lakh, and profit after tax collapsed to just Rs 22,983 from Rs 57.82 lakh earlier. The company executed a 50% reduction in paid-up share capital effective February 25, 2025, to write off accumulated losses against the reduced capital. The Statutory Auditor (GAMS & Associates LLP) issued an unqualified opinion on the financial statements. The auditor flagged one observation that the company's accounting software does not have an audit trail (edit log) feature; management stated the software is being upgraded. No dividend was recommended for the year. Net worth stood at about Rs 3.29 crore with paid-up equity share capital of Rs 6.53 crore.
Sharp drop in profits and shrinking revenue signal continued weakness in the business, which is now mainly into share trading, financial services and investments. The 50% capital reduction to wipe out accumulated losses is a red flag for shareholders as it confirms heavy past losses, though it cleans up the balance sheet. Small investors should view this stock with caution given the very thin profit base and limited business scale.