Financial Results for the quarter and year ended 31.03.2025.
Awaiting price reaction for this filing.
Suryavanshi Spinning Mills reported FY25 total income of Rs 282.97 lakhs vs Rs 221.50 lakhs in FY24, but revenue from operations dipped slightly to Rs 150.82 lakhs from Rs 155.82 lakhs. The company swung to a net loss of Rs (167.89) lakhs in FY25 from a profit of Rs 144.71 lakhs in FY24, driven mainly by Rs 516.33 lakhs losses from its discontinued spinning division and higher overall expenses. Profitability was propped up by Rs 411.45 lakhs of exceptional income. The balance sheet is stressed, with accumulated losses of Rs 2,614.81 lakhs, negative net worth of Rs (990.57) lakhs, and current liabilities exceeding current assets. The spinning division was discontinued from November 2023 and its assets are held for sale. The statutory auditor issued a qualified opinion citing unresolved long-pending trade payables of Rs 225.08 lakhs whose limitation period has expired.
Shareholders face a weak picture, with the company in negative net worth, going concern doubts flagged by management, losses from discontinued operations, and a qualified audit report. The business remains dependent on asset sales and exceptional income to stay afloat, making this a high-risk situation for investors.