Integrated Filing (Financial) for the half year and year ended 31st March, 2025
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Awaiting price reaction for this filing.
Avax Apparels and Ornaments Ltd submitted its first annual integrated filing as a newly listed company (IPO on BSE on January 14, 2025, raising ₹191.80 lakhs). Revenue from operations jumped to ₹3,435.86 lakhs in FY25 from ₹2,205.98 lakhs in FY24, a growth of about 55.8%, driven mainly by the knitted clothes segment (₹3,434.51 lakhs). Profit after tax rose to ₹163.18 lakhs from ₹138.20 lakhs (up ~18.1%), with basic EPS at ₹19.77 versus ₹18.06. Total assets nearly doubled to ₹928.82 lakhs, supported by the IPO funds and higher trade receivables of ₹675.30 lakhs. However, the company reported negative operating cash flow of ₹56.80 lakhs, while profit margins on a PBT basis actually compressed to about 6.6% from 8.8% the year before, mainly because other expenses and purchases scaled up faster than sales.
Strong top-line growth and a clean (unmodified) audit opinion from the new auditor NKSC & Co. are positives for shareholders, but the negative operating cash flow and the sharp jump in trade receivables raise near-term concerns about working capital quality. Margin compression signals rising costs, which investors should watch in coming quarters.