In terms of Regulation 30 and 34 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, enclosed herewith please find a copy of the Annual Report of the Company ....
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On the reaction day the stock moved 3.6 pts more than Nifty Microcap 250 and 3.5 pts more than its Tyres & Rubber Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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The company filed its 95th Annual Report with BSE for the financial year ended 31st March 2025 and announced its 95th AGM for 28th August 2025 via video conferencing. Revenue from operations was NIL for both FY25 and FY24; the company earned only Other Income of ₹137.64 lacs in FY25, up about 20.7% from ₹114.01 lacs in FY24, mainly from commission for assisting clients. Profit After Tax jumped to ₹128.10 lacs from ₹49.92 lacs in FY24 (up ~157%), but this surge was largely driven by a deferred tax credit of ₹56.26 lacs rather than operational improvement. The Rubberwood Factory has been shut for nearly 27 years due to a forest department notice, and the company is now relying on developing its Goa land assets to maintain going concern status. No dividend was recommended; auditors Singhi & Co. issued an unqualified report.
Core business remains non-operational with zero revenue from operations, and profitability is propped up by a one-time tax credit and commission income, which is not sustainable. Shareholders should watch the progress of the Goa land asset development, as going concern status hinges on monetising these assets. The PAT jump looks strong on paper but does not reflect underlying operational turnaround.