1. The Audited Standalone Financial Results set out in compliance with Accounting Standards (AS) for the Quarter and year ended March 31, 2025 together with Statement of Assets & Liabilities ....
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The Board of CWD Limited approved audited financial results for the quarter and year ended March 31, 2025. Standalone revenue from operations rose about 57% year-on-year to Rs. 3,290.32 lakhs (from Rs. 2,098.05 lakhs), while profit after tax more than doubled to Rs. 251.04 lakhs (from Rs. 113.30 lakhs), lifting basic EPS to Rs. 6.61 (from Rs. 3.44). Consolidated PAT was Rs. 250.82 lakhs on revenue of Rs. 3,290.32 lakhs. Cash and cash equivalents jumped sharply to Rs. 2,724.55 lakhs (from Rs. 533.57 lakhs), helped by about Rs. 20.44 crore raised via conversion of warrants into 185,900 equity shares. The statutory auditor DGMS & Co. issued an unmodified (clean) opinion but flagged capitalization of development costs (intangibles of Rs. 430.90 lakhs) as a Key Audit Matter. The Board also appointed M/s. M. Rupareliya & Associates as Secretarial Auditor for FY 2025-26 and 2026-27. A provision for doubtful debts of Rs. 722.97 lakhs was recorded during the year.
Strong top-line and bottom-line growth, a clean audit opinion and a much stronger cash balance are positives for shareholders. However, a sharp rise in trade payables (Rs. 1,241.50 lakhs vs Rs. 133.25 lakhs), a sizeable Rs. 723 lakh provision for doubtful debts, and the auditor's specific focus on capitalized development costs are points investors should watch closely.