In Pursuant to Regulation 30 and 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, this is to inform you that the Board of Directors of Fone4 ....
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Awaiting price reaction for this filing.
The Board of Fone4 Communications approved the audited standalone results for the half-year and full year ended 31 March 2025, which were issued with a Qualified Opinion by the auditor Kapish Jain & Associates. Revenue from operations crashed to Rs. 5,834.69 lacs in FY25 from Rs. 14,245.15 lacs in FY24, a sharp ~59% decline, while net loss narrowed to Rs. (318.87) lacs from Rs. (649.81) lacs. Reserves remain deeply negative at Rs. (1,312.04) lacs, and the auditor flagged multiple qualifications including unconfirmed trade balances, non-deduction of PF/ESI, and non-filing of Income Tax Returns and Tax Audit Reports for AY 2022-23 to 2024-25. Emphasis of Matter highlights Rs. 237 lacs inventory write-down, Rs. 1,150.40 lacs in untraceable business advances (with legal notices issued), TDS of Rs. 25.46 lacs deducted but not deposited, and an ICICI Bank loan declared NPA with property attached (matter pending at DRT Ernakulam). The company also received in-principle approval for a preferential issue of 79 lakh equity shares at Rs. 15 each.
This is a deeply negative filing for shareholders: revenue has more than halved, the company is loss-making with wiped-out reserves, the auditor has given a qualified opinion, and there are serious red flags around an NPA loan, large untraceable advances, and tax/PF non-compliance that together raise going-concern doubts. The proposed preferential equity issue at Rs. 15 is a dilution risk, and retail investors should view this stock with significant caution.