Financial Result for the year ended 31st March, 2025
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Awaiting price reaction for this filing.
Gaekwar Mills Ltd filed audited FY25 results showing zero operating revenue and total income of just Rs 41.31 lakhs, down from Rs 56.94 lakhs in FY24 — essentially a non-operational company. The company reported a net loss of Rs 442.44 lakhs for FY25 (vs Rs 187.75 lakhs loss in FY24), driven largely by Rs 469.88 lakhs in debenture redemption premium charges after extending redemption of its Series A (Rs 30 cr) and Series B (Rs 5 cr) secured non-convertible debentures with additional premiums. The balance sheet is severely stressed with negative other equity of Rs (7,659.85) lakhs against long-term borrowings of Rs 7,890.24 lakhs, meaning liabilities far exceed total assets of Rs 522.42 lakhs. The company's only fixed asset is land, loans of Rs 75 lakhs were extended to associates (Rs 321.10 lakhs outstanding), and no managerial remuneration was paid. Statutory auditor M D Pandya & Associates issued an unmodified opinion without a going-concern qualification, though noting related-party loan activity.
This is a distressed situation — shareholders face a loss-making, technically insolvent company with negative net worth that is entirely dependent on debenture redemption extensions to continue. The stock carries very high risk and should be treated with extreme caution; the clean audit opinion offers limited comfort given the underlying financial weakness.