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Genesis IBRC India Limited has filed its 33rd Annual Report along with the notice for its AGM scheduled on 30th September 2025 at 11:00 AM at its registered office in Eluru, Andhra Pradesh. For FY 2024-25, the company reported nil revenue from operations but earned other income of Rs. 366.72 lakhs, turning a profit after tax of Rs. 350.48 lakhs compared to a loss of Rs. 379.75 lakhs in the previous year. Basic and diluted earnings per share stood at Rs. 2.70 versus nil earlier. The directors have not recommended any dividend, and the company continues to have no active business operations. Key agenda items include adoption of financial statements, reappointment of Whole-Time Director Balakrishna Koppula who retires by rotation, appointment of new statutory auditors M/s. M N Rao & Associates LLP for five years (replacing Ramasamy Koteswara Rao & Co), and appointment of M/s. P.S Rao & Associates as secretarial auditors for five years.
Shareholders should note this is a small company with no core business activity, and the turnaround to profit comes entirely from other income rather than operations. The change of statutory auditors after a full five-year term is a routine governance matter, but investors may want to scrutinise the source and sustainability of the other income going forward.