Annual report for the financial year 2024-25
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Garment Mantra Lifestyle Ltd has submitted its 14th Annual Report for FY2024-25 along with the notice of its AGM scheduled on September 30, 2025 in Tirupur. On a standalone basis, revenue from operations fell to Rs. 81.38 crore from Rs. 104.85 crore in the previous year, a decline of about 22%, but profit after tax improved to Rs. 1.60 crore from Rs. 1.43 crore. On a consolidated basis, revenue dropped to Rs. 132.41 crore from Rs. 164.13 crore while consolidated net profit (including other comprehensive income) was Rs. 2.87 crore versus Rs. 2.47 crore. The Board has not recommended any dividend, choosing to conserve reserves. During the year the company issued bonus shares in a 1:1 ratio (about 10.04 crore shares) in August 2024. Statutory auditor M/s NBT & Co has completed its term and M/s Balaji and Thulasiraman is proposed as the new statutory auditor for five years.
Revenue has declined sharply year-on-year while standalone profitability has only marginally improved, indicating margin expansion but a shrinking top line. Shareholders will see no dividend this year and are being asked to approve a related-party transaction omnibus limit of Rs. 65 crore annually, which is a significant governance point to watch.