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Awaiting price reaction for this filing.
Genesis IBRC India Limited (formerly SSK Lifestyles Limited) reported nil revenue from operations for FY25, same as FY24, with total income also at zero (down from Rs 366.72 lakhs of other income last year). Total expenses fell sharply to Rs 16.24 lakhs from Rs 379.75 lakhs. Net profit for FY25 came in at Rs 350.48 lakhs, a turnaround from a loss of Rs 379.75 lakhs, with EPS of Rs 2.70 vs negative Rs 2.92. However, other equity remains deeply negative at Rs (446.74) lakhs, cash and equivalents are just Rs 0.57 lakhs, and the company has no operational revenue, suggesting the profit likely came from write-offs or adjustments rather than real business activity. The auditor (Ramasamy Koteswara Rao & Co LLP) issued an unmodified opinion on the results.
While the headline profit turnaround looks positive, it appears non-operational in nature. Negative reserves, near-zero cash, and zero business revenue raise serious going concern concerns for shareholders despite the clean auditor opinion. This is a micro-cap, essentially non-operating shell with weak financial health — high risk for retail investors.