FINANCIAL RESULTS 31.03.2025
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Awaiting price reaction for this filing.
The company, recently renamed Indus Aluminium Recyclers Limited (from Containerway International), reported audited FY25 results showing a turnaround to a Profit After Tax of Rs. 47.96 lakhs versus a loss of Rs. 16.41 lakhs in FY24. Profit Before Tax for FY25 was Rs. 73.85 lakhs with EPS of Rs. 0.48, compared to a negative EPS of Rs. 0.16 last year. Q4 FY25 revenue from operations was Rs. 781.02 lakhs (Q4 FY24: Rs. 1,997.56 lakhs), and the company raised fresh equity in August 2024. However, operating cash flow was deeply negative at Rs. (1,076.45) lakhs despite positive accounting profit, and trade receivables jumped sharply from Rs. 24.49 lakhs to Rs. 1,406.23 lakhs. The statutory auditor issued a qualified opinion, flagging Rs. 300 lakhs of non-current loans and advances where no balance confirmations were received and no provision was made.
While the headline PAT turnaround looks positive, the qualified audit opinion and very large negative operating cash flow suggest quality-of-earnings concerns. Shareholders should watch the recoverability of the ballooning trade receivables and the disputed Rs. 300 lakh advance, both of which materially affect the true financial picture.