Audited Financial results for the quarter and year ended 31.03.2025
Awaiting price reaction for this filing.
The board approved audited financial results for the quarter and full year ended March 31, 2025. The company reported a net loss of Rs. 45.98 lakhs in FY25, wider than the Rs. 34.31 lakhs loss in FY24. Revenue from operations was effectively nil for both the full year and Q4, indicating the company has no active business operations. Total expenses rose to Rs. 32.65 lakhs from Rs. 13.58 lakhs. Reserves are deeply negative at Rs. 1,055.74 lakhs, and the company is being sustained through fresh borrowings of Rs. 29 lakhs. The statutory auditor (M/s Sathish Ramdeni & Co) issued an unmodified opinion, but disclosed that 50,000 equity shares held in Sree Rayalaseema Alkalies and Allied Chemicals Ltd were illegally transferred by a third party, a matter the company is pursuing in court. Separately, Whole Time Director Mr. Venu Krishna Kishore Babu Pasam resigned with immediate effect, citing pre-occupation and personal commitments.
Negative for shareholders — widening losses, no operating revenue, deeply eroded reserves, and an unresolved case of alleged illegal transfer of investments raise serious going-concern and governance concerns. The resignation of a whole-time director adds to the uncertainty around the company's future direction.