Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are submitting herewith the outcome of the Board Meeting held on 15th May, 2025. ....
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The Board of Avon Mercantile Ltd approved audited financial results for the quarter and full year ended 31 March 2025. The company swung to a loss of Rs 1.41 lakh in FY25 versus a profit of Rs 14.26 lakh in FY24. Total income fell sharply to Rs 266.95 lakh from Rs 464.79 lakh, a decline of around 43% year-on-year, mainly because interest income dropped to Rs 255.22 lakh from Rs 433.64 lakh. On the balance sheet, loans and advances jumped more than 6x to Rs 3,709.50 lakh (from Rs 540 lakh) and borrowings surged to Rs 3,269.25 lakh (from just Rs 80.75 lakh), pushing the debt-to-equity ratio to roughly 6.4x. Cash and equivalents fell to Rs 6.18 lakh, and operating cash flow turned negative at Rs (37.94) lakh. Other equity remained in negative territory at Rs (235.36) lakh. The auditor (Gupta Garg & Agrawal) issued an unqualified opinion with no qualifications or emphasis of matter.
The numbers paint a weak picture for shareholders — profits have turned negative, revenues have shrunk sharply, and the balance sheet has become highly leveraged as the loan book expanded using fresh borrowings. Other equity stays negative and operating cash flow is negative, raising concerns about financial sustainability even though the auditor did not flag a going-concern issue.