Outcome of Board Meeting held on May 24, 2025
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The Board approved audited standalone and consolidated results for Q4 and FY25. Standalone revenue from operations rose to Rs 737.85 crores from Rs 694.53 crores (~6% growth), but losses widened with FY25 PAT at Rs (62.32) crores versus Rs (51.03) crores last year. Q4 standalone PAT turned positive at Rs 2.70 crores (vs Rs (18.51) crores loss a year ago), helped by a one-off Rs 15.31 crore profit on sale of leasehold rights of the Thane factory land for Rs 75 crores. Operating cash flow swung sharply positive to Rs 90.44 crores from negative Rs 46.74 crores. The company booked a Rs 19.84 crore provision against unrecoverable dues from Anax Industries, redeemed Rs 46.35 crore of preference shares held by Bilcare Limited, and issued/converted warrants worth Rs 96 crores to Bilcare. The auditor issued an un-modified opinion but flagged an Emphasis of Matter on the Rs 49.49 crore public fixed deposit liability inherited from the Bilcare arrangement.
Modest revenue growth and a sharp swing in operating cash flow are positives, but the company remains loss-making with widening full-year losses and a heavy debt load (total borrowings ~Rs 684 crores against equity of ~Rs 432 crores). The Bilcare-related overhang — fixed deposit liability, related-party warrant/preference share transactions, and emphasis-of-matter flag — keeps risk elevated despite the one-off Thane land sale boost.