FINANCIAL RESULT FOR 4TH QTR AND YEAR ENDED 31.03.2025
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Ganon Products Ltd reported audited results for FY25 with revenue from operations falling sharply to Rs 985.42 lakh from Rs 1,707.35 lakh in FY24, a drop of about 42%. The company swung from a net profit of Rs 187.02 lakh in FY24 to a net loss of Rs 33.74 lakh in FY25, with EPS turning negative at Rs -0.36 vs Rs 4.35 earlier. Q4 revenue collapsed to just Rs 25 lakh from Rs 401.10 lakh in the year-ago quarter. Operating cash flow turned negative at Rs -179.67 lakh versus a positive Rs 564.27 lakh last year. The auditor (LKJ & Associates LLP) issued an unmodified opinion but flagged emphasis-of-matter items including a Rs 1,769.19 lakh cotton purchase from a single Mumbai supplier with Rs 953 lakh outstanding over 180 days, Rs 60.51 lakh of old trade receivables with no provision, and delays/defaults in TDS payments under sections 94C, 94A, and 94J.
The sharp revenue contraction, swing to loss, negative operating cash flow, and pending statutory dues raise serious concerns about operational health and may weigh on the stock. Shareholders should note the large concentrated supplier exposure and unresolved old receivables flagged by the auditor, even though the audit opinion itself remains clean.