Outcome of the Board Meeting
Price
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The board approved audited financial results for the year ended March 31, 2025. The company's manufacturing plant has been shut down since October 31, 2023, resulting in only minimal revenue of ₹16.97 lakhs in FY25, compared to ₹15,370.49 lakhs in FY24. The company reported a net loss of ₹5,021.47 lakhs for the year (standalone), against a loss of ₹3,492.23 lakhs in the previous year. Cash flow from operations was negative at ₹(402.24) lakhs. Exceptional items include a ₹23.27 crore loss on a Tata Steel claim for raw material shortage and ₹3,242 lakhs in FPPCA electricity charges. The auditor flagged a 'Material Uncertainty Related to Going Concern' on both standalone and consolidated accounts. Consolidated auditor issued a 'Disclaimer of Opinion' due to incomplete data from an overseas subsidiary. The board approved in-principle asset monetisation of Plant and Machinery.
Shares remain in deeply distressed territory: operations are suspended, losses are widening, and auditors have formally questioned the company's ability to continue as a going concern. While asset monetisation and promoter funding offer a possible path to revival, the stock is highly risky and speculative. Retail investors should monitor progress on restarting operations and asset sale execution closely.