Audited Financial Results of the Company for the Quarter and Year ended 31st March, 2025.
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Tavernier Resources Limited reported a strong turnaround for FY25, with total income nearly doubling to Rs. 293.65 lakhs from Rs. 151.14 lakhs in FY24. The company swung to a profit of Rs. 266.35 lakhs from a loss of Rs. 29.75 lakhs in the previous year, with EPS rising to Rs. 4.45 from a negative Rs. 0.50. For Q4 FY25 alone, profit after tax stood at Rs. 21.53 lakhs. The balance sheet strengthened significantly, with retained earnings turning positive at Rs. 179.72 lakhs and cash and equivalents surging to Rs. 431.59 lakhs. The statutory auditor issued an unmodified (clean) opinion on the results. Separately, M/s. Parekh Sharma & Associates resigned as statutory auditor with immediate effect, citing pre-occupation with other assignments.
The return to profitability and sharp revenue growth are positive signals for shareholders, though the negative operating cash flow of Rs. 186.30 lakhs suggests the profit was driven largely by non-operating items. The sudden resignation of the statutory auditor just after completing the FY25 audit is worth monitoring for governance reasons.