Submission of declaration of Unmodified Opinion.
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Awaiting price reaction for this filing.
The company has submitted a declaration confirming that its statutory auditor, M/s D.S. Talwar & Co., has issued an unmodified (clean) opinion on the audited financial results for FY 2024-25. The declaration was inadvertently omitted from an earlier submission and is now being filed to complete the regulatory record. Along with this filing, the full audited results show a net loss of Rs. 542.24 lakhs for FY 2024-25 versus a net profit of Rs. 1,209.73 lakhs in FY 2023-24, primarily driven by a net unrealised loss of Rs. 491.88 lakhs on equity investments due to adverse market price movements. The board also approved doubling the authorised share capital from Rs. 25 crore to Rs. 50 crore, appointment of new internal and secretarial auditors, reappointment of an independent director, and is currently undertaking a rights issue of roughly Rs. 49 crore at Rs. 70 per share in a 7:10 ratio.
The clean audit opinion is routine and neutral for the stock, but shareholders should note the sharp swing to a loss caused by mark-to-market investment losses and the dilution risk from the ongoing Rs. 49 crore rights issue (record date June 6, 2025; closing July 4, 2025).