Financial Results for the Quarter and Year ended 31st March, 2025
Price
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Darjeeling Ropeway Company Limited reported its first-ever operating revenue of Rs 91.01 lakhs for FY25, compared to nil revenue in FY24, indicating the start of commercial activity (likely trading in stock-in-trade of Rs 66.58 lakhs). Despite this, the company posted a net loss of Rs 26.69 lakhs for the year (vs. Rs 4.09 lakhs loss in FY24), with Q4 alone showing a loss of Rs 42.17 lakhs and zero revenue. Total expenses surged to Rs 116.89 lakhs (FY24: Rs 4.07 lakhs), driven mainly by purchase of stock-in-trade and other expenses. Total assets grew to Rs 1,228.11 lakhs with cash and equivalents at Rs 143.91 lakhs, but other current liabilities spiked sharply to Rs 621.74 lakhs (FY24: Rs 16.03 lakhs) and short-term borrowings of Rs 125.82 lakhs appeared. The statutory auditor issued an unmodified (unqualified) opinion. The board also appointed a new Secretarial Auditor and Internal Auditor.
The company is still loss-making with losses widening nearly 6.5x year-on-year, while revenue is minimal relative to expenses, signalling weak operational viability. Shareholders should view this as a high-risk, pre-revenue-stage company with rising liabilities; any stock price reaction is likely to be muted given the very small scale and continued cash burn.