Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform you that the Board of Directors of the Company, in their meeting ....
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The board approved audited financial results for Q4 and FY ending March 31, 2025. The company swung to a profit after tax of Rs. 216.26 lakhs for the full year, reversing a loss of Rs. 22.61 lakhs in FY24. The turnaround was driven entirely by 'other income' of Rs. 366.96 lakhs (vs Rs. 6.80 lakhs prior year), while revenue from operations fell to zero from Rs. 2.90 lakhs. Total expenses rose to Rs. 78.40 lakhs. Total assets ballooned from Rs. 1,874.65 lakhs to Rs. 9,697.14 lakhs, funded by non-current borrowings that surged from Rs. 1,558.32 lakhs to Rs. 9,086.74 lakhs (roughly Rs. 90.87 crores). Operating cash flow was deeply negative at Rs. -7,535.94 lakhs, fully offset by borrowings of Rs. 7,528.42 lakhs. The statutory auditor (J Singh & Associates) issued an unmodified opinion, and no dividend was recommended.
Although the company returned to profitability, the earnings are entirely driven by non-operating income while core revenue is zero. Borrowings have jumped nearly 5.8x, pushing the debt-to-equity ratio above 17x, and operating cash flow is sharply negative — raising concerns about earnings quality and financial sustainability for shareholders.