Outcome of Board Meeting for the quarter ended September 2024
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Bhagawati Gas Ltd reported weak unaudited results for Q2 and H1 FY25. Revenue from operations fell to Rs. 20.80 lakhs in H1 FY25 from Rs. 26.28 lakhs in H1 FY24, a decline of about 21%. The company swung to a net loss of Rs. 52.45 lakhs in H1 FY25 compared to a profit of Rs. 4.66 lakhs in the same period last year. Loss per share widened to Rs. (0.31) from Rs. 0.03 earlier. Other equity has turned negative at Rs. (274.99) lakhs and current borrowings nearly doubled to Rs. 178.39 lakhs. Cash flow from operations was negative at Rs. (43.70) lakhs. The statutory auditor issued a modified limited review report flagging doubtful supplier advances, a missing ICICI bank balance confirmation of Rs. 52,807, misclassification of credit card payments, and a Rs. 235.23 lakh disputed machinery payable from 1994.
The shift from profit to loss, declining revenue, negative operating cash flow, and auditor qualifications on recovery of advances and a three-decade-old disputed liability raise concerns about financial health. Shareholders should view this as a negative signal, though the company noted its equity is currently not actively traded on BSE.