Board Meeting Outcome held for the Approval of Audited Financial Result for Period ended 31st March 2025
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AVI Polymers Ltd held a board meeting on 15th May 2025 and approved its audited financial results for Q4 and FY ended 31st March 2025. The company reported a sharp jump in profit after tax to Rs 81.68 lakhs for FY25 from Rs 2.36 lakhs in FY24, largely driven by other income of Rs 131.82 lakhs (vs Rs 23.49 lakhs last year). Core revenue from operations, however, fell steeply to Rs 6.43 lakhs from Rs 64.24 lakhs in FY24. EPS for FY25 stood at Rs 2.00 versus Rs 0.06 in the previous year. Total assets rose modestly to Rs 590.87 lakhs. Separately, the board approved the resignation of statutory auditor M/s Jain Kedia and Sharma, who resigned citing 'change in management of the company' as the reason.
The auditor's resignation citing a change in management is a notable governance red flag for shareholders, even though the financial results carry an unmodified opinion. The headline profit jump masks a near-total collapse in operating revenue, making the quality of earnings weak and warranting caution.