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Awaiting price reaction for this filing.
Ganesha Ecoverse reported FY25 revenue from operations of Rs. 718.21 lakhs, up about 21% from Rs. 592.53 lakhs last year, but slipped into a standalone loss of Rs. 146.43 lakhs versus a profit of Rs. 423.05 lakhs in FY24. The swing was largely driven by a one-time fair-value (MTM) loss of Rs. 548.95 lakhs on equity investments held as current assets, plus sharply lower other income. On a consolidated basis, the company posted a much larger loss of Rs. 1,483.73 lakhs, almost entirely due to its share of losses (Rs. 1,337.30 lakhs) from new associate GESL Spinners, whose yarn-spinning unit was severely damaged in an August 2024 storm and flood, causing Rs. 3,012.62 lakhs in losses at the associate level. The company raised Rs. 4,695.33 lakhs via a rights issue in October 2024 and deployed Rs. 4,649.50 lakhs into GESL Spinners. The statutory auditor (Rajiv Mehrotra & Associates) issued an unmodified opinion on both standalone and consolidated results.
Negative for shareholders — the company has reported a net loss on both standalone and consolidated bases, with consolidated losses significantly amplified by its newly acquired associate. However, the core operating business (revenue from operations) is growing, and the bulk of the loss stems from a non-cash MTM adjustment and a one-off flood event at the associate, so underlying operations are not as weak as the headline numbers suggest.