ANNUAL REPORT 2024-2025
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Encode Packaging India Ltd (formerly Nova Publications India Limited) has filed its 30th Annual Report for FY25. Revenue from operations collapsed sharply to ₹0.28 lakhs from ₹460.17 lakhs in FY24, a near-total decline. The company slipped into a loss with Profit After Tax of negative ₹7.18 lakhs versus a profit of ₹12.42 lakhs in the previous year. The company shifted its registered office from Punjab to Gujarat and is diversifying into packaging business. No dividend was declared. Statutory auditor M/s Rishab Aggarwal & Associates was appointed during the year to fill the vacancy caused by the resignation of the previous auditor, and is now proposed for re-appointment for a five-year term. Several board changes occurred including new independent directors and a new additional whole-time director.
Shareholders should note the near-complete erosion of revenue and the swing into a loss, reflecting what appears to be a business pivot from publications to packaging that is not yet generating income. The auditor change and weak internal controls (admitted as not commensurate with business size) are additional points of concern for retail investors.