Financial results for the year ended 31st March 2025
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Ekennis Software Service Ltd reported its audited standalone results for FY25. Revenue from operations came in at around ₹340.61 lakhs versus ₹392.55 lakhs in FY24, a drop of roughly 13% year-on-year. Other income rose, keeping total revenue nearly flat at about ₹392.55 lakhs. Profit after tax jumped sharply to around ₹66.19 lakhs from about ₹8.37 lakhs in FY24, helped by lower total expenses. The company also went on a heavy capex spree, spending about ₹559 lakhs on property, plant and equipment, which was funded mostly through fresh borrowings of ₹341 lakhs. As a result, net cash from operations turned negative at around (₹19.49) lakhs versus ₹5.76 lakhs positive last year. Statutory auditor M/s AY & Co issued an unmodified (clean) opinion, and no modified opinions or emphasis-of-matter were reported.
Strong profit growth is positive, but shareholders should note the revenue dip, the sharp rise in debt to fund capex, and negative operating cashflow, which raise questions about near-term cash generation and whether the new capacity will deliver returns.