We herewith submit the outcome of the meeting of the board held today, May 29, 2025 along with the copy of audited financial results for the period ended March 31, 2025.
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Eastern Treads' board approved its audited standalone financial results for the quarter and year ended March 31, 2025. Revenue from operations rose modestly to Rs 6,023 lakhs in FY25 from Rs 5,953 lakhs in FY24. However, the company reported a net loss of Rs 312.57 lakhs for FY25 (worse than the Rs 280.29 lakh loss last year), and accumulated losses have eroded the net worth to negative Rs 1,278.84 lakhs. Management has explicitly assessed going concern and expects to recover asset values and discharge liabilities. The statutory auditor issued an unmodified (unqualified) opinion. The board also closed the Jamshedpur branch and reappointed RGN Price and Co as internal auditors for FY25-26.
The negative net worth and continued losses are red flags that may concern shareholders, even though the auditor's report is unqualified. The branch closure and going concern disclosure mean short-term price action could remain weak, while any recovery hinges on management's projections materialising.