Standalone and Consolidated Audited Financial Results for the quarter and year ended 31st March,2025.
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Azad India Mobility Ltd (formerly Indian Bright Steel Co. Ltd) reported audited results for FY25 with total income of Rs. 10.06 crores versus just Rs. 0.03 crores in FY24, marking a sharp operational ramp-up in the EV luxury bus business. Net loss narrowed significantly from Rs. (1.21) crores to Rs. (13.16 lakhs), and Q4FY25 turned profitable with a PAT of Rs. 14.50 lakhs versus a loss of Rs. 1.79 lakhs in Q4FY24. Total assets grew from Rs. 42.93 crores to Rs. 65.31 crores, supported by conversion of 60.50 lakh warrants into equity shares for Rs. 7.26 crores. However, operating cash flow was deeply negative at Rs. (51.47) crores, and cash losses stood at Rs. 7.13 lakhs. The statutory auditor issued an unmodified opinion but flagged a material uncertainty about the company's ability to meet its liabilities as they fall due within one year from the balance sheet date.
The revenue turnaround and narrowed losses are positive signals, but the auditor's going-concern flag and large negative operating cash flow raise concerns about short-term liquidity. Shareholders should watch for sustained revenue growth, working capital improvement, and clarity on funding for the EV bus business before drawing strong conclusions.