Annual Report F.Y.2024-25
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Binny Mills has filed its Annual Report for FY 2024-25 and called its 18th AGM on 29th August 2025 via video conferencing. Revenue from operations fell to Rs. 632.18 lakhs from Rs. 697.42 lakhs, a decline of about 9.4%, driven mainly by a sharp 45.5% drop in textile division sales to Rs. 198.71 lakhs. The warehousing and showroom divisions did better, with rentals up 3.9% and showroom sales up 12.1%. Despite this, the company posted a loss after tax of Rs. 1,270.55 lakhs (slightly narrower than Rs. 1,450.12 lakhs in FY24), weighed down by huge finance costs of Rs. 1,266.38 lakhs that are nearly double the operating revenue. The auditors are unchanged (M/s Ramesh & Ramachandran) and no exceptional items were recorded.
Shareholders should note persistent and heavy losses, with finance costs alone exceeding total operating revenue, raising serious going-concern questions. The stock is likely to be viewed negatively by investors given the widening structural losses despite modest top-line stabilisation in the warehousing and showroom businesses.