FINANCIAL RESULTS -31.03.2025
Price
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Awaiting price reaction for this filing.
Deep Polymers reported FY25 standalone revenue from operations of ₹9,817.18 lakhs, down about 6.7% from ₹10,528.34 lakhs in FY24. Profit after tax fell sharply to ₹517.33 lakhs from ₹711.60 lakhs, a decline of roughly 27%, and EPS dropped to ₹2.11 from ₹3.03. Q4 alone saw revenue dip to ₹2,299.96 lakhs and PAT collapse to ₹39.19 lakhs versus ₹118.53 lakhs a year earlier, with depreciation costs nearly doubling year-on-year (₹649.48 vs ₹352.36 lakhs). Operating cash flow weakened to ₹1,991.47 lakhs (from ₹3,547.71 lakhs) and end-of-year cash dropped to just ₹3.23 lakhs. Importantly, the statutory auditor (M/s S. N Shah & Associates) issued a Qualified Opinion, flagging ₹316.72 lakhs of unrecovered trade receivables under litigation where no doubtful-debt provision was made, and non-compliance with Ind-AS 21 on foreign-currency restatement — even though the company's board note incorrectly stated the opinion was 'unmodified'.
Negative for shareholders — both revenue and profits declined, depreciation surged, and cash balances were almost wiped out. The qualified audit opinion contradicts the company's claim of an 'unmodified' opinion and raises red flags around receivable quality and forex accounting, which could weigh on the stock price and investor confidence.