Outcome of Board meeting held on 30.05.2025
Price
▲ 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 standalone and consolidated financial results for FY ended March 31, 2025, along with an unmodified (clean) auditor opinion from M/s RHAD & Co. Standalone revenue from operations fell sharply to Rs. 928.39 lakhs from Rs. 1,659.34 lakhs in FY24, a drop of roughly 44%, due to the permanent closure of the textile processing unit at Dombivali. Despite the revenue decline, the company swung to a small profit after tax of Rs. 8.75 lakhs (vs. a loss of Rs. 698.16 lakhs last year), but this was largely driven by exceptional items of Rs. 446.77 lakhs, mainly profit on sale of fixed assets and write-offs. The company carries zero long-term and short-term borrowings and reported positive operating cash flow of Rs. 95.14 lakhs. Additionally, Company Secretary and Compliance Officer Ms. Shivanshi Mishra resigned effective end of business hours on May 30, 2025, citing better prospects.
The sharp revenue decline reflects a structural change (full shutdown of the processing unit) rather than a temporary slowdown, so core business earnings power has weakened materially. The headline return to profit is supported mostly by one-time asset sale gains, not improved operations, meaning the underlying textile business remains under pressure. On the positive side, zero debt and positive operating cash flow provide balance sheet comfort. Investors should track whether the company can stabilize revenue at the new lower base and replace one-time gains with sustainable earnings.