The Board of Directors approved audited stanaloane and consolidated financial results for the quarter and year ended 31 March 2025. Integrated Filing (financial) for the same.
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G. G. Dandekar Properties Ltd (formerly G. G. Dandekar Machine Works Ltd), engaged in leasing of immovable properties, announced audited results for the quarter and year ended 31 March 2025. Statutory auditor CNK JBMS & Associates issued an unmodified (clean) opinion on both standalone and consolidated results. Revenue from operations grew about 21.7% year-on-year to Rs. 360.27 lakhs (from Rs. 296.02 lakhs). On a standalone basis, the company reported a much smaller net loss from continuing operations of Rs. 21.20 lakhs versus Rs. 422.47 lakhs loss last year, helped by a one-time write-back of Rs. 205.13 lakhs of excess tax provision related to an older Income Tax dispute (AY 2013-14) that was rectified downward. On a consolidated basis, including share of associate Navasasyam Dandekar Pvt Ltd, results swung to a net profit of about Rs. 64.83 lakhs from a loss of Rs. 435.50 lakhs a year ago. The board also flagged post-reporting events: resolution to sell a 3,601 sq. mtrs freehold land parcel in Bhiwandi (buyers have paid Rs. 401 lakhs advance) and conversion of 14,989 CCPS of the associate company into equity shares in 1:1 ratio.
Revenue growth of over 20% is encouraging, but standalone continuing operations remain marginally in loss and profitability is largely propped up by a one-time tax write-back, so the underlying earnings picture is weak. The proposed Bhiwandi land sale and associate CCPS conversion are positive one-off developments but unlikely to materially shift the stock on their own.