ENCLSOED HEREWITH APPOITNMENT OF INTERNAL AUDITOR DISCLOSURE
Awaiting price reaction for this filing.
Nutricircle Ltd's board, at its meeting on May 26, 2025, approved audited financial results for Q4 and FY ended March 31, 2025. The company swung to a profit after tax of Rs. 12.09 lakhs in FY25, compared to a loss of Rs. 125.23 lakhs in FY24. Revenue from operations dipped slightly to Rs. 270.48 lakhs from Rs. 283.65 lakhs. The board also appointed Mrs. Mayuri Jain (M/s Jain Mayuri & Associates) as Secretarial Auditor for 5 years (FY26–FY30) and Mr. Manas Dash as Internal Auditor for FY26. The statutory auditor (NSVR & Associates LLP) issued a qualified opinion flagging an unverified Rs. 50 lakh unsecured loan from Mr. K. Veersham, though the company separately declared the opinion as 'unmodified.' Equity infusion of Rs. 9.73 crores via preferential allotment (97.28 lakh shares) and Rs. 27.50 lakhs via warrants was completed in December 2024.
The return to profitability is a positive signal for shareholders, though the Rs. 50 lakh unverified loan flagged by the auditor and the conflicting description of the audit opinion raise minor governance concerns. Cash flow from operations remains sharply negative at Rs. (386.84) lakhs, suggesting the profit is not yet translating into cash generation.