Outcome of Board Meeting dated April 30, 2025
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The Board approved audited standalone and consolidated financial results for Q4 and FY ended March 31, 2025, with a clean (unmodified) auditor's opinion from Sharp & Tannan Associates. Standalone revenue from operations jumped to Rs 19,684 lakhs from Rs 12,345 lakhs (~59% YoY), driven largely by the Real Estate segment which grew to Rs 16,550 lakhs from Rs 9,237 lakhs. Profit after tax rose ~32% to Rs 2,693 lakhs (EPS of Rs 20.88 vs Rs 15.77), while exceptional items of Rs (202) lakhs included a Rs 559 lakh property tax provision and Rs 250 lakh impairment of investment in Forbes Macsa. Mr. Nirmal Jagawat, the existing CFO, was elevated to Whole-time Director (KMP) for three years, and Makarand M. Joshi & Co was appointed as Secretarial Auditor for five years. Comparative figures were restated to reflect the demerger of the Precision Tools business into FPTL.
Strong top-line and bottom-line growth driven mainly by real estate project revenue recognition is positive for shareholders, but the negative operating cash flow of Rs (1,278) lakhs and auditor flags on Forbes Technosys (CIRP initiated) and Forbes MACSA (going concern uncertainty for the subsidiary) signal underlying stress in some subsidiaries that investors should monitor.