Financial Results
Awaiting price reaction for this filing.
Devhari Exports reported zero revenue from operations for both FY25 and FY24, showing no business activity. The net loss narrowed sharply to Rs 13.43 lakh in FY25 from Rs 1,011.59 lakh in FY24, which had been inflated by a one-time Rs 1,000 lakh loss on sale of investment. The only recurring expense is finance cost of Rs 13.43 lakh. The balance sheet shows severely negative equity of Rs (310.71) lakh, with accumulated losses of Rs 1,053.55 lakh against a paid-up capital of Rs 742.83 lakh. Short-term borrowings jumped to Rs 306.30 lakh from Rs 173.78 lakh a year ago, and operating cash flow turned negative at Rs (120) lakh versus a small positive Rs 2.53 lakh earlier. The statutory auditor (B.B. Gusani & Associates) issued an unmodified (clean) opinion, and the company also appointed a new Secretarial Auditor for FY24-25 and an Internal Auditor for FY25-26.
This is a deeply concerning picture for shareholders — the company has no operating revenue, deeply negative net worth, and is sustaining itself only by taking on more debt to cover finance costs. Despite the clean audit report, the combination of negative equity, rising borrowings, and negative operating cash flow raises serious going-concern doubts about the company's ability to continue as a viable business.