Financial results for the year ended March 2025
Awaiting price reaction for this filing.
Advance Syntex Limited reported deeply negative results for FY25, with a net loss before tax of Rs 1,843.83 lakhs versus Rs 630.02 lakhs in the prior year. Total equity turned sharply negative at approximately Rs (1,242) lakhs (share capital of Rs 1,109.71 lakhs offset by accumulated losses of Rs 2,351.69 lakhs), while total assets collapsed from Rs 4,133.34 lakhs to Rs 1,342.21 lakhs. The auditor (VRAJM & Associates) issued an Adverse Opinion, stating that the company's business activity has closed and 'going concern' is not sustainable. Lender banks have classified the company as an NPA, seized its fixed assets and stock under the SARFAESI Act, and stopped charging interest. The company also did not make full provisions for doubtful trade receivables or gratuity, and several balances remain unconfirmed.
This is an extremely distressed filing — the adverse audit opinion, going concern failure, negative equity, NPA status, and SARFAESI asset seizure signal severe financial trouble. Shareholders face meaningful risk of value erosion or further dilution, and the stock is likely to remain under heavy pressure.