Audited Financial Results for the quarter and year ended March 31, 2025.
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Brady & Morris Engineering reported FY25 revenue from operations of ₹9,030.60 lakhs, up about 20% from ₹7,520.81 lakhs in FY24. However, profit before exceptional items and tax actually fell to ₹1,012.31 lakhs from ₹1,151.18 lakhs, indicating pressure on core operating margins. The company booked large exceptional items: a ₹2,334.82 lakh gain from the sale of property, plant and equipment, partially offset by a ₹402.97 lakh write-off due to a cyber fraud incident. As a result, net profit for the year surged to ₹2,401.40 lakhs (EPS ₹106.73) versus ₹841.48 lakhs (EPS ₹37.40) last year. Cash flow from operations turned negative at ₹(97.43) lakhs, weighed down by the cyber fraud write-off and tax payments. The statutory auditor (R.K. Doshi & Co. LLP) issued an unmodified (clean) opinion, and M/s. Rajesh Dudhara & Co. was appointed as the new internal auditor for FY26.
Headline earnings look strong, but the profit jump is largely driven by a one-time property sale, while underlying core profitability weakened and a cyber fraud write-off raised governance concerns. The negative operating cash flow is a yellow flag for shareholders looking past the exceptional gains.