Financial results for the quarter and year ended 31st march 2025
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For FY25, revenue from operations fell sharply to Rs. 3,128.89 lakhs from Rs. 9,663.81 lakhs in FY24, a drop of about 68%. Despite the steep revenue decline, the company returned to profitability with a net profit of Rs. 41.49 lakhs versus a loss of Rs. 439.73 lakhs in the previous year, helped by sharp cost cuts. Q4 FY25 revenue rose modestly to Rs. 706.34 lakhs and net profit was Rs. 236.22 lakhs, against a Rs. 439.74 lakh loss in Q4 FY24. The auditor (CNGSN & Associates LLP) issued an unmodified opinion but flagged delayed GST payments (Rs. 1.09 crore including interest) and TDS dues (Rs. 54.64 lakhs). Plant & Machinery was revalued upward by Rs. 3.17 crore, boosting other equity. The board also approved a sub-division of unissued preference shares from Rs. 100 to Rs. 10 face value, reclassification of authorised capital, and adoption of a new MOA with expanded objects covering defence equipment, EVs, batteries, rare earth minerals, water treatment, and hospitality.
While the return to profit and expansion into new business areas signal a turnaround attempt, the massive revenue collapse, negative operating cash flow, and pending statutory dues raise concerns about business sustainability and governance. Shareholders should watch for execution of new diversification plans and improvement in working capital and tax compliance.