Outcome of Board Meeting held on May 30 , 2025 -1) Recommendation for reappointment of Mr Krishna Murari Poddar, Managing Director of the Company for a term of three years w.e.f 08.09.2026 ....
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The board approved audited financial results for Q4 and FY ended March 31, 2025, with an unmodified opinion from statutory auditor G.K. Tulsyan & Co. Revenue from operations nearly doubled to Rs 2,202.55 lakhs in FY25 from Rs 1,174.22 lakhs in FY24. The company swung to a net profit of Rs 274.54 lakhs from a loss of Rs 159.86 lakhs, but a large chunk of this came from a one-time exceptional gain of Rs 283.10 lakhs arising from a borrower repaying an overdue loan with interest plus compensation. Core operating profit before the exceptional item was a modest Rs 89.86 lakhs. The board also recommended reappointment of promoter and Managing Director Mr. Krishna Murari Poddar (aged ~79, spouse of Director Uma Poddar) for another 3-year term from September 2026, and reappointment of two independent directors for second 5-year terms. Secretarial and internal auditors were also reappointed.
Headline turnaround looks strong, but profitability is largely propped up by a one-off exceptional recovery rather than core business performance, so investors should look at underlying operating profit. Reappointment of the 79-year-old promoter-MD may draw governance questions from some shareholders, though board committees are now fully composed of independent directors.