Future Market Networks Limited has informed the Exchange regarding Outcome of Board Meeting held on May 19, 2025.
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The Board approved audited standalone and consolidated financial results for Q4 and FY25 on May 19, 2025. Standalone income from operations rose to Rs. 2,166.37 lakhs in Q4 (from Rs. 2,053.51 lakhs a year ago), while FY25 operating income grew ~10% to Rs. 9,103.55 lakhs. However, the company swung to a standalone net loss of Rs. 2,844.42 lakhs in Q4, weighed down by a Rs. 1,900 lakh exceptional write-off of irrecoverable capital advances and an impairment of Rs. 548.90 lakhs on its Ashirwad Mall investment. For the full year, standalone net profit stood at Rs. 6,749.85 lakhs (vs. a Rs. 580.05 lakh loss last year), but this turnaround was almost entirely driven by one-time gains of Rs. 4,670.74 lakhs and Rs. 3,440.54 lakhs from lenders taking over R-Mall (Mumbai) and 10 Acre Mall (Ahmedabad) properties. Standalone operating cash flow turned negative at Rs. (4,087.30) lakhs vs. a small inflow last year. The auditor issued an unmodified opinion with an Emphasis of Matter on contingent liabilities of Rs. 12,057.28 lakhs (Hero FinCorp) and Rs. 18,448.96 lakhs (Yes Bank/JC Flower) along with ongoing SARFAESI and IBC disputes.
The headline FY25 profit is misleading as it relies on property losses to lenders rather than core operations; the Q4 loss, negative standalone operating cash flow, and large contingent liabilities from disputed guarantees signal continued stress. Shareholders should weigh the distressed asset backdrop and ongoing litigation before drawing comfort from the annual numbers.