Audited Financial Results for quarter and financial year ended March 31, 2025
Awaiting price reaction for this filing.
Rathi Graphic Technologies Ltd reported audited FY25 results showing zero revenue from operations, as the company's toner manufacturing business remains temporarily shut following the Corporate Insolvency Resolution Process (CIRP). The company swung to a profit of Rs 1,157.84 lacs compared to a loss of Rs 63.24 lacs in FY24, but this was almost entirely driven by one-time, non-cash extraordinary items — a reversal of provision for doubtful debts of Rs 880.19 lacs and reversal of investment diminution of Rs 12.46 lacs. EPS stood at Rs 7.01 versus (Rs 0.38) in the previous year. The company emerged from insolvency with new promoters (Surbhika Steels and Daga Infrastructure) taking control in April 2025, but operations are yet to be revived. Net worth remains negative at Rs -25.01 lacs, and 99% of the existing share capital was cancelled and extinguished post the closure of FY25 on April 24, 2025.
The headline profit is misleading — it is entirely driven by one-time write-back reversals, not business activity. With no revenue, negative equity, and operations still to restart, the stock remains highly speculative. Shareholders should note the 99% capital cancellation already effected post-FY closure, which will significantly impact their holdings.