As per the Attachment
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
The Board approved audited financial results for FY25. Standalone total revenue crashed to Rs 2,493.78 lakhs from Rs 9,854.93 lakhs in FY24, a decline of about 75%. Consolidated revenue fell even sharper to Rs 3,695.87 lakhs from Rs 20,978.22 lakhs (about 82% decline). Consolidated profit after tax dropped to Rs 54.08 lakhs from Rs 1,379.55 lakhs. The statutory auditor (H. Rajen & Co.) issued a Qualified Opinion with 8 serious qualifications, including lack of supporting documents for loans and advances of Rs 208.91 lakhs and Rs 7,814.85 lakhs, misuse of Right Issue proceeds of Rs 4,106.10 lakhs (invested in a subsidiary and deployed as unsecured loans instead of working capital), unpaid TDS/TCS dues of Rs 25.76 lakhs, and pending SEBI investigation. Standalone operating cash flow was negative at Rs (421.68) lakhs. The company also appointed M/s. Mehul Raval & Associates as Secretarial Auditor for FY26–FY30.
This is a deeply concerning filing — a Qualified Opinion, massive revenue collapse, and misuse of IPO/Rights proceeds raise serious red flags about governance and business viability. Shareholders should view this as a high-risk situation with potential for further negative disclosures, especially given the ongoing SEBI investigation and weak cash generation.