Outcome of the Board Meeting for the quarter ended December 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 Limited's Board approved its unaudited standalone and consolidated financial results for Q3 FY25 and nine months ended December 31, 2024. Total income for the quarter surged to Rs. 343.04 lakhs (vs Rs. 36 lakhs in Q3 FY24), while net profit stood at Rs. 204.19 lakhs (EPS of Rs. 1.22). For the nine months, total income rose to Rs. 360.30 lakhs and net profit was Rs. 151.74 lakhs. The statutory auditor, M/s. Jain Paras Bilala & Co., issued a qualified review report flagging issues including Rs. 3 crores of long-outstanding advances without provision, Rs. 55.64 lakhs provided for doubtful recoveries, undocumented credit card/imprest payments of Rs. 37.99 lakhs, and a disputed Rs. 235.23 lakhs machinery payable from 1994. The auditor also drew attention to a Rs. 3.22 crore receivable from Hindustan Copper recognized under the Vivad se Vishwas II dispute scheme based on a legal opinion. The company notes its equity is not currently listed on BSE despite the security code.
Profitability is driven mainly by a one-time dispute-settlement income (Hindustan Copper), not core operations, which remain minimal (Rs. 1.5 lakhs in revenue from operations). The qualified auditor report highlights weak receivables management and unresolved old liabilities, which is a negative signal for financial controls and governance quality.