Audited Financial Results for the financial year ended 31st March, 2025
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EMA India reported zero revenue from operations for FY25, with only ₹0.04 lakh of other income. Total expenses rose to ₹64.02 lakhs (FY24: ₹49.39 lakhs), widening the loss before tax to ₹61.77 lakhs (FY24: ₹51.54 lakhs) and EPS to ₹(6.15) (FY24: ₹(5.13)). The balance sheet shows negative net worth of ₹(174.70) lakhs (FY24: ₹(112.96) lakhs) with total liabilities of ₹204.71 lakhs exceeding assets. Operating cash flow was negative ₹59.82 lakhs. Management has formally determined the company has ceased to be a going concern due to no business in hand, continuous losses, negative net worth, and failed talks with potential business partners. The auditor issued an unmodified opinion but added an Emphasis of Matter on the going concern issue, and noted a change in the auditing firm during the year.
This is a deeply distressed micro-cap with no operating business, mounting losses, negative book value, and an explicit going-concern failure — extremely high risk for shareholders with limited near-term recovery prospects. The Company Secretary has also resigned, adding to governance concerns.