Eastern Silk Industries Limited has informed the Exchange regarding 'Machine-Readable Copy of Financial Results'.
EASTSILK · price
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Eastern Silk Industries has resubmitted its audited standalone financial results for Q4 and full year ended March 31, 2025 to NSE in a machine-readable format, following NSE's request dated June 12, 2025. The company reported a total income of Rs. 2,548.99 lakhs and a net profit of Rs. 396.42 lakhs for FY25, with EPS of Rs. 0.50. The auditor (B.K. Shroff & Co.) issued a qualified opinion, flagging a material uncertainty over the company's ability to continue as a going concern. The uncertainty stems from a pending third tranche payment of Rs. 3,972.22 lakhs from the Successful Resolution Applicant (Baumann Dekor Private Limited) under the NCLT-approved resolution plan, which is due by July 31, 2025. The SRA has indicated confidence the payment will be made by July 15, 2025. Following the resolution plan, the old share capital of Rs. 15.79 crores was written off and new equity of Rs. 1 crore (50 lakh shares of Rs. 2 each) was allotted to the SRA on April 3, 2025.
Shareholders should note the going-concern flag from the auditor and the dependence on the final Rs. 39.72 crore payment from the new promoter (Baumann Dekor). The share structure has been completely reset — old shares were extinguished and new shares issued to the SRA, which means existing shareholders were effectively diluted to zero. Any positive sentiment hinges on the SRA completing the final tranche on time.