We are submitting herewith outcome of Board Meeting for audited financial Results for the quarter and year ended on March 31, 2025
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Datiware Maritime Infra Limited (formerly Ruia Aquaculture Farms) reported FY25 total income of Rs. 39.00 lakhs against total expenditure of Rs. 89.31 lakhs, posting a net loss of Rs. 45.58 lakhs (an improvement from Rs. 112.04 lakhs loss in FY24). Loss per share was Rs. 0.91. The company's net worth is deeply negative at Rs. -235.66 lakhs, with borrowings rising to Rs. 870.63 lakhs and cash & equivalents at just Rs. 0.54 lakhs. The auditor issued a Qualified Opinion, flagging that the audit trail (edit log) feature was not enabled throughout the year and that Rs. 40.44 lakhs in undisputed statutory dues (custom duty and excise duty) have been in arrears for over six months. The statutory auditor resigned during the year, with no issues raised by the outgoing auditor. The company has incurred cash losses in both FY25 (Rs. 26.55 lakhs) and FY24 (Rs. 91.45 lakhs).
The severely negative net worth, recurring losses, rising borrowings, and outstanding statutory dues point to serious financial distress for shareholders. The qualified audit opinion and auditor resignation add to governance concerns — this small-cap company operates on a very thin cash base with limited room to absorb further setbacks.