ENCLSOED HEREWITH INTEGRATED FINANCIAL RESULT FOR YEAR ENDED 31/03/2025
Awaiting price reaction for this filing.
Nutricircle Limited reported audited financial results for Q4 and FY ended March 31, 2025. Revenue from operations jumped to about Rs. 270.48 lakhs from Rs. 124.56 lakhs in FY24 — a growth of over 117% year-on-year. The company continues to post a loss after tax of roughly Rs. 12.61 lakhs, but this is a dramatic improvement from the prior year's loss of about Rs. 456.76 lakhs. The statutory auditor (NSVR & Associates LLP) issued a qualified opinion because the company did not provide balance confirmation or supporting evidence for an unsecured loan of Rs. 50 lakhs from Mr. K. Veersham, leaving the auditor unable to verify that amount. The company also raised Rs. 9.73 crore via a preferential issue on December 5, 2024, of which Rs. 5.70 crore was a conversion of promoter Hitesh Patel's loan into equity (no fresh cash received). A loan of about Rs. 80.43 lakhs from the Managing Director remains outstanding as a related party transaction.
Strong revenue growth and a sharply reduced loss are positives for shareholders, but the qualified audit opinion is a red flag — it signals a documentation gap the auditor could not resolve. The continued net loss, reliance on promoter loans converted to equity rather than fresh capital, and the unresolved Rs. 50 lakh loan raise concerns about financial transparency and warrant caution.