Audited financial results of the company for the quarter and year ended 31st March, 2025.
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Revenue from operations fell sharply to ₹26.04 lakhs in FY25 from ₹72.35 lakhs in FY24 (down roughly 64%), with Q4 revenue collapsing to just ₹0.86 lakhs versus ₹15.50 lakhs a year ago. The company slipped into a net loss of ₹45.09 lakhs for FY25, compared with a profit of ₹41.12 lakhs in FY24 (which was boosted by a one-time arbitration-related other income of about ₹638 lakhs). The main gas plant has been shut since October 2021 after the supply contract with Hindustan Copper Ltd (HCL) expired and was not renewed, and the company is pursuing arbitration over minimum offtake guarantee dues. Operating cash flow was negative at around ₹55.51 lakhs for FY25. The statutory auditor issued an unmodified (clean) opinion with no qualifications, going concern flag, or emphasis of matter.
With the core gas business still closed and no new revenue driver visible, near-term earnings power remains weak; the stock is likely to stay range-bound until the HCL arbitration delivers fresh cash inflows or the company restarts operations.