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Ganesha Ecoverse Ltd (formerly SVP Housing Ltd) announced audited results for FY25 on May 30, 2025, with auditors issuing an unmodified opinion. On a standalone basis, revenue from operations grew ~21% to Rs. 718.21 lakhs (vs Rs. 592.53 lakhs), but the company swung to a loss after tax of Rs. 146.43 lakhs (vs profit of Rs. 423.05 lakhs last year), mainly dragged by a Rs. 548.95 lakhs fair-value (MTM) loss on equity investments held as current assets. EPS turned negative at Rs. (0.83). On a consolidated basis, the loss widened sharply to Rs. 1,483.73 lakhs (EPS Rs. (8.46)) after picking up Rs. 1,337.30 lakhs share of losses from its newly acquired associate, GESL Spinners Pvt Ltd, whose yarn-spinning facility was severely damaged in a storm/flood in August 2024, causing losses of about Rs. 3,012.62 lakhs at the associate level. The company raised Rs. 4,695.33 lakhs via a rights issue in October 2024 and deployed most of the proceeds to take a 44.39% stake in GESL Spinners. Operating cash flow was negative at Rs. (182.55) lakhs.
Shareholders should note that despite top-line growth, profitability took a major hit — both from a one-time MTM mark-down on investments and from steep losses at the newly acquired associate. The stock may see pressure given the consolidated loss of nearly Rs. 15 crore (largely from the associate) and negative operating cash flow, though the rights issue has strengthened the balance sheet with total equity of Rs. 4,086.25 lakhs.