Audited Financial Result for the year ended 31.03.2025
Awaiting price reaction for this filing.
The board approved audited results for FY25 on 21 May 2025. Revenue from operations rose modestly to ₹404.94 lakhs from ₹392.02 lakhs in FY24, a growth of about 3.3%. Profit after tax jumped sharply to ₹3.29 lakhs from ₹0.79 lakhs, roughly 4x growth, though Q4 FY25 alone slipped into a marginal loss of ₹0.09 lakhs. Total equity stood at ₹463.41 lakhs, but other equity remains negative at -₹76.32 lakhs (improved from -₹79.61 lakhs), reflecting accumulated losses. The statutory auditor (Krutesh Patel & Associates) issued an unqualified/unmodified opinion, but flagged an Emphasis of Matter regarding the proposed amalgamation of Citizen Solar Private Limited with the company, which is pending NCLT approval and if approved would be effective from 1 April 2023. No adjustments for this scheme are included in the current financial statements.
The unqualified audit opinion and big jump in full-year PAT are positives, but the negative other equity, very small revenue base, and pending amalgamation scheme keep uncertainty high. Investors should watch NCLT approval progress for the Citizen Solar merger, as it could materially change the company's financials going forward.