Outcome of Board Meeting held on 30.05.2025
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The Board of Garg Furnace Ltd approved audited financial results for Q4 and FY ended March 31, 2025. Total revenue from operations rose modestly by ~1.4% YoY to Rs 26,161.49 lakhs (vs Rs 25,802.58 lakhs in FY24). However, Profit After Tax declined ~27% YoY to Rs 555.84 lakhs (from Rs 763.59 lakhs), with PBT margin compressing from 2.94% to 2.11%. Notably, net cash flow from operations swung sharply positive at Rs 874.63 lakhs (vs negative Rs 1,340.98 lakhs in FY24). Statutory auditor M/s Ashwani & Associates issued an unmodified opinion. The company did not recognise deferred tax assets, citing uncertainty around future taxable profits. Q4 revenue grew ~4.4% but Q4 PAT fell ~13.8% YoY.
Mixed signals for shareholders — top-line was steady but bottom-line shrunk sharply due to higher input costs. The strong rebound in operating cash flow and clean audit opinion are positives, while restated figures (due to a prior share allotment error) and non-recognition of deferred tax assets warrant attention.