Audited financial result for FY 2024-25
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Duke Offshore Ltd reported audited results for FY25 showing a near-total collapse in revenue from operations, which fell to just Rs 6.93 lakhs from Rs 413.54 lakhs in FY24 — a drop of roughly 98%. Total income also shrank sharply to Rs 73.61 lakhs (from Rs 414.26 lakhs), aided only by Rs 66.74 lakhs of other income. The company swung from a profit of Rs 36.64 lakhs before tax to a loss of Rs 219.77 lakhs, resulting in a net loss of Rs 219.77 lakhs versus a profit of Rs 123.90 lakhs the prior year. EPS turned negative at Rs (2.28) versus Rs 1.26 previously. Other equity is deeply negative at Rs (507.47) lakhs (vs Rs (283.12) lakhs), and cash from operations was negative at Rs (33.92) lakhs. The board also accepted the resignation of statutory auditor SCMK & Co LLP, whose 5-year term ended, and approved related party transactions for FY25.
This is a deeply negative result for shareholders — revenues have essentially evaporated, the company is reporting a full-year loss with worsening accumulated losses and negative operating cash flow, raising serious going-concern questions despite an unmodified audit opinion. The stock is likely to come under significant pressure; investors should watch for new auditor appointment and any steps to revive operations.