THE ANNUAL REPORT FOR THE FINANCIAL YEAR 2024-2025
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Duke Offshore Limited has submitted its 39th Annual Report for the financial year ended 31st March 2025 to the BSE under SEBI LODR Regulation 34(1). The company's financial performance deteriorated sharply, with total income falling to Rs. 73.67 lakhs from Rs. 414.26 lakhs in the previous year (a drop of about 82%), and the company swung from a profit after tax of Rs. 123.90 lakhs to a loss of Rs. 219.77 lakhs. Earnings per share turned negative at Rs. (2.28) versus Rs. 1.26 in FY24. The company plans to diversify from near-shore marine services into shore-based infrastructure projects in oil, gas, and water management. The 39th AGM is scheduled for 13th August 2025, where shareholders will consider appointing new statutory auditors (Kirtane & Pandit LLP) and secretarial auditors (R.S. Rajpurohit & Co.), along with approval for related party transactions of up to Rs. 1 crore with its directors and CFO for FY 2025-26.
Shareholders should note the steep revenue decline and a return to losses after a profitable FY24, which may weigh negatively on stock sentiment. However, the proposed diversification into infrastructure could open new revenue streams, and the AGM items are largely routine governance matters requiring shareholder approval.