Outcome of Board Meeting held on 29 May 2025.
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The Board of B.R.Goyal Infrastructure Ltd approved audited financial results (standalone and consolidated) for the half year and full year ended 31 March 2025, with statutory auditor M/s ABMS & Associates issuing an unmodified (clean) opinion. On a standalone basis, FY25 revenue from operations stood at Rs.50,155.46 lakhs versus Rs.57,880.62 lakhs in FY24, a decline of about 13%, while profit after tax rose to roughly Rs.2,507 lakhs from Rs.2,187 lakhs, indicating margin expansion despite lower top line. EPS stood at Rs.13.35 (FY25) vs Rs.12.57 (FY24). On a consolidated basis, revenue was Rs.50,980.17 lakhs and PAT was Rs.2,517.74 lakhs. Operating cash flow turned sharply negative at about -Rs.3,679 lakhs (standalone) compared to a positive Rs.1,214 lakhs in FY24, largely due to a build-up in receivables and inventories. The Board also appointed M/s Aman Jindal & Co. as Internal Auditor and M/s Dhananjay V. Joshi & Associates as Cost Auditor for FY26, and revised the UPSI fair disclosure code. The company recently listed on BSE SME on 14 January 2025 after an IPO of 63.12 lakh shares at Rs.35 and also issued 1:1 bonus shares during the year.
Clean audit opinion and improving profitability despite revenue softness are mildly positive signals, but the significant drop in operating cash flow and revenue decline warrant attention. Shareholders should note fresh equity from the bonus issue and recent IPO, which will be reflected in expanded share count going forward.