Audited Financial Results for the Quarter and year ended 31st March 2025
Awaiting price reaction for this filing.
Dharani Sugars reported near-zero revenue of Rs. 17.27 lakhs for Q4 FY25 (down from Rs. 77.52 lakhs in Q4 FY24) and Rs. 71.52 lakhs for the full year FY25, reflecting that the company is essentially non-operational. The company posted a massive net loss of Rs. 9,219.53 lakhs for FY25 with a deeply negative EPS of Rs. (24.60), and its net worth has turned negative at Rs. (16,328.14) lakhs against total assets of Rs. 47,110.60 lakhs. The auditor (Srivatsan & Associates) issued a qualified opinion flagging 5 issues, including going concern uncertainty, non-receipt of balance confirmations, carrying value of investment in Appu Hotels, Rs. 33,465 lakhs unsustainable debt shown as contingent liability, and non-provisioning of interest on loans from directors/related parties totalling Rs. 16,586.91 lakhs. The company recently exited the CIRP process in May 2024 after a Master Restructuring Agreement with NARCL and is currently undertaking maintenance work at all three units, targeting a cane-crushing season start by November 2025.
Shareholders face extreme risk — the company is loss-making, non-operational, has negative net worth, contingent liabilities of Rs. 33,465 lakhs, and qualified audit opinion citing going concern doubts. Revival depends entirely on restarting sugar operations by November 2025 as planned under the debt restructuring deal.