Outcome of Board Meeting.
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Choksi Asia Limited (formerly Choksi Imaging Limited) announced FY25 audited results with revenue from operations jumping to ₹3,698.16 lakhs from ₹1,599.11 lakhs in FY24, driven mainly by the amalgamation of Choksi Asia Private Limited (CAPL) effective April 1, 2023. Net profit after tax rose to ₹309.90 lakhs (vs ₹138.71 lakhs), with EPS at ₹5.44 versus ₹2.43, though Q4 standalone PAT was ₹70.86 lakhs. The Board did not recommend any final dividend for FY25. Other decisions include re-appointing Mr. Samir Choksi as Managing Director and Mr. Jay Choksi as Whole-time Director for three years, shifting the registered office from Mumbai to Silvassa, and allotting 27.51 lakh equity shares plus ~9.97 lakh preference shares to CAPL's erstwhile shareholders. The auditor issued an unmodified opinion but flagged a Key Audit Matter: a contingent liability of ₹15.74 crores from a Commissioner of Customs order (SAD and penalties), currently under appeal. Operating cash flow turned negative at -₹286.91 lakhs versus +₹268.07 lakhs last year, even as reported profits improved.
The headline revenue and profit growth is largely inorganic, boosted by the CAPL merger rather than core business expansion. Negative operating cash flow and a sizeable pending customs litigation (₹15.74 crores) are yellow flags, and shareholders will receive no dividend. The shift of the registered office to Silvassa may bring tax/regulatory benefits, while promoter continuity is unchanged.