ENCLOSED HEERWITH DISLCORE UNDER REG 30
Awaiting price reaction for this filing.
The board approved audited results for FY25 showing total income of Rs. 31.95 crore and net profit after tax of Rs. 8.46 crore, a big swing from a Rs. 1.70 lakh loss in FY24. Revenue jumped from Rs. 0.38 crore to Rs. 31.59 crore, driven mainly by a one-time solar panel sub-contract with M/s Telecrown Infratech. However, the company is reversing up to Rs. 8 crore of that revenue after contractual disagreements and is trying to recover its Rs. 3.72 crore in site preparation costs. Standalone Q4 FY25 actually posted a loss after tax of Rs. 1.59 crore due to a Rs. 3 crore tax provision booked in the quarter. Operating cash flow was sharply negative at Rs. (17.59) crore, though cash position improved to Rs. 1.51 crore from Rs. 0.03 crore, funded by a Rs. 16.23 crore fresh equity issue and Rs. 4.04 crore in additional borrowings. The board appointed new secretarial and internal auditors and accepted the resignations of CFO George Abraham Vithayathil and Managing Director Sumita Mishra (she stays on as Non-Executive Director). The auditor flagged an ongoing SAT appeal against a BSE order related to the company's preferential share listing, with the outcome still pending.
Shareholders should weigh the headline profit against underlying weakness: a disputed one-time contract, negative operating cash flow, two senior exits in a single day, and unresolved listing/trading approval issues at BSE. The Q4 standalone loss and revenue reversal risk suggest the FY25 numbers may not be sustainable.