1) Approved the financial results as on 30th june,2025 2)Approved the 34th Directors report with AGM Notice 3) Appointed the independent director
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Baroda Extrusion's board approved unaudited financial results for Q1 FY26 (quarter ended June 30, 2025), reporting revenue from operations of Rs 3,805.93 lakhs, up about 15% from Rs 3,306.15 lakhs in the same quarter last year. Profit after tax jumped to Rs 88.18 lakhs versus Rs 14.23 lakhs YoY, though EPS remained modest at Rs 0.06. The board also fixed the 34th AGM for September 30, 2025 and approved the Directors' Report and AGM notice. Key red flags: the company's net worth is negative at Rs (3,460.83) lakhs, and the statutory auditor Maloo Bhatt & Co. issued a qualified opinion flagging (a) non-compliance with Section 73 of the Companies Act regarding unadjusted advances of Rs 44.65 lakhs, and (b) questionable recognition of Rs 292.62 lakhs in deferred tax assets given the negative net worth. The company is awaiting BSE approval for a preferential equity issue of Rs 3,739.99 lakhs, partly via conversion of unsecured loans.
The sharp jump in quarterly profit is encouraging, but the negative net worth, auditor's qualified opinion, and dependence on a pending preferential issue to shore up capital are significant concerns. Shareholders should watch for BSE approval of the fund-raising plan and any improvement in margins or net worth in upcoming quarters.