Audited Financial Results for the quarter and year ended on March 31, 2025.
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Baroda Rayon Corporation reported FY25 revenue from operations of ₹9,960 lakhs, up ~30% from ₹7,683 lakhs in FY24, driven entirely by its Real Estate segment (sale of plots and industrial units). The Textiles segment remains non-operational since August 2008. Profit before exceptional items jumped to ₹2,902.56 lakhs (vs ₹1,548.18 lakhs), while reported net profit stood at ₹4,035.03 lakhs (vs ₹3,422.22 lakhs), helped by exceptional items of ₹1,132.47 lakhs — including forfeiture of ₹856.98 lakhs from strategic investors who failed to fund the BIFR rehabilitation scheme and a ₹275.48 lakhs write-off of old liabilities. EPS rose to ₹17.61 from ₹14.94. Operating cash flow turned strongly positive at ₹4,234 lakhs versus a negative ₹299 lakhs last year. The statutory auditor issued an unmodified opinion but highlighted an Emphasis of Matter on the rehabilitation delays and the overdue debt of ₹6,321.87 lakhs settled via a March 2025 Debt Settlement Agreement.
Strong operational turnaround with revenue and profit growth, but bottom-line is flattered by one-off exceptional gains. Shareholders should watch progress on debt settlements and the still-dormant Textiles segment before drawing long-term conclusions.