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.
Fone4 Communications reported FY25 revenue of Rs. 5,834.69 lacs, a sharp ~59% decline from Rs. 14,245.15 lacs in FY24. Net loss after tax narrowed to Rs. 318.87 lacs (from Rs. 649.81 lacs) but the company remains in losses, with EPS at Rs. (1.87). Reserves have turned negative at Rs. (1,312.04) lacs, and cash from operations is negative. The auditor issued a qualified opinion flagging unconfirmed trade receivable/payable balances, non-filing of income tax returns for AY 2022-23 to 2024-25, and non-deduction/deposit of PF and ESI for eligible employees. Emphasis of matter notes include an ICICI Bank loan of Rs. 127.15 lacs declared NPA in Dec 2023 with a director's property attached, and Rs. 1,150.40 lacs in advances where the management cannot track progress and has issued legal notices.
Weak financials combined with serious governance and tax compliance issues (NPA loan, pending DRT case, unfiled ITRs) signal significant stress and raise risk for shareholders. The qualified audit opinion, negative reserves, and shrinking revenue are likely to weigh negatively on investor sentiment.