ENCLOSED HEREWITH BOARD MEETING OUTCOME DATED 17/05/2025
Awaiting price reaction for this filing.
Deccan Bearings Limited held its board meeting on May 17, 2025, and approved three items: (1) Audited Financial Results for Q4 and FY ended March 31, 2025, (2) Appointment of M/s Amarendra Mohapatra & Associates as Secretarial Auditor for 5 years (FY 2025-26 to 2029-30), and (3) Appointment of Mr. Manas Dash as Internal Auditor for FY 2025-26. The company's FY25 results show another year of losses: Total Revenue fell to Rs. 4.01 lakh (from Rs. 4.57 lakh in FY24) with zero revenue from operations. Loss before tax widened slightly to Rs. 15.97 lakh (from Rs. 17.69 lakh). EPS was negative at Rs. (0.75). The balance sheet shows negative other equity of Rs. (211.01) lakh, shareholders' funds of just Rs. 7.32 lakh, and cash of only Rs. 0.73 lakh. The statutory auditor (PAMS & Associates) issued a clean opinion on internal financial controls but flagged that the company has incurred cash losses for two consecutive years. The statutory auditor was changed per rotation policy, not due to resignation.
The company continues to post operating losses with virtually no revenue from operations and dwindling cash reserves (down to Rs. 0.73 lakh from Rs. 7.05 lakh). With negative other equity approaching paid-up capital, shareholders should note ongoing going-concern risks despite auditor confirmation. The routine auditor appointments are procedural and unlikely to move the stock.