Digjam Limited has informed the Exchange regarding Appointment of Ms G. M. Kapadia & Co. as Other of the company w.e.f. May 27, 2025.
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Digjam Limited's board, at its May 27, 2025 meeting, approved standalone audited financial results for Q4 and FY25 ended March 31, 2025 with an unmodified auditor opinion. The company appointed M/s. G. M. Kapadia & Co as Internal Auditor and M/s. K G Goyal & Co as Cost Auditor for FY 2025-26. Statutory auditor M/s. Nayan Parikh & Co flagged a material going concern uncertainty: the company posted a total comprehensive loss of Rs. 1,044.08 lakhs for FY25 and its current liabilities exceeded current assets by Rs. 502.64 lakhs. Crucially, operations at the company's sole Jamnagar manufacturing plant were discontinued effective March 31, 2025, with related assets of Rs. 5,714.12 lakhs reclassified as 'Non-Current Assets Held for Sale.' Revenue from continuing operations rose sharply to Rs. 1,819.83 lakhs in FY25 from Rs. 253.11 lakhs in FY24, but the bottom line remained negative due to losses from discontinued operations of Rs. 1,258.40 lakhs.
Shareholders should note significant risks: the company has shut its only manufacturing unit, faces a working capital deficit, and the auditor has explicitly raised a going concern doubt. While management plans asset sales and restructuring, the stock carries elevated risk and is effectively a turnaround/restructuring story rather than an operating business.