Financial Results for the financail year ended March 31, 2025.
Awaiting price reaction for this filing.
White Organic Retail reported audited FY25 results with total income of ₹128.24 lakhs (up ~43% from ₹89.39 lakhs in FY24), driven by new revenue from operations of ₹102.75 lakhs. However, the company posted a net loss of ₹1,686.61 lakhs (improved from a loss of ₹2,725.20 lakhs in FY24), including exceptional items of ₹1,570.89 lakhs. EPS stood at ₹-5.15 vs ₹-8.33 in FY24. Critically, net worth turned negative at ₹-471.73 lakhs (from +₹1,215.89 lakhs) and total assets fell sharply to ₹904.47 lakhs from ₹7,434.75 lakhs. The auditor issued a Qualified Opinion citing multiple unresolved confirmations, unsupported write-offs, manual accounting systems, and flagged a material uncertainty over the company's ability to continue as a going concern due to unpaid tax and TDS liabilities of ₹494+ lakhs outstanding for 3+ years. BSE trading in the stock remains suspended due to SEBI Regulation 76 non-compliance. The company stated it is undertaking a fundraising exercise expected to complete by June 2025 quarter-end to clear dues and restore positive net worth. The board also approved the completion of the Diva Yoga (SBBPL) acquisition with preferential allotment pending BSE approval.
This is a high-risk filing for shareholders — the auditor's qualified opinion, explicit going-concern flag, negative net worth, and ongoing BSE trading suspension are serious red flags. Existing shareholders may face further dilution from the planned fundraising/preferential allotment to SBBPL shareholders, though the company claims this will restore positive net worth by Q1FY26.