Approval of Audited Results for the quarter and year ended 31-03-2025 and appointment of Ms.R.Rani, woman director
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Gem Spinners India's board approved its audited financial results for Q4 and full year ended March 31, 2025. The company reported zero revenue from operations and a net loss of Rs. 65.94 lakhs for FY25, wider than the Rs. 58.39 lakh loss in FY24. Total expenses stood at Rs. 65.94 lakhs, mainly employee costs (Rs. 10.41 lakhs), depreciation (Rs. 15.60 lakhs), and other expenses (Rs. 39.93 lakhs). The company also appointed Ms. R. Rani (DIN: 11131477) as a Non-Executive Independent Woman Director and noted the Annual Secretarial Compliance Report for FY24-25.
Shareholders should note the company continues to report no operating revenue, mounting losses, and deeply negative reserves (Rs. -3,293 lakhs) resulting in negative net worth of Rs. -224.65 lakhs. Operations are being sustained mainly through fresh long-term borrowings of Rs. 220 lakhs, with negligible cash balance of Rs. 0.90 lakhs at year-end, signaling serious financial stress.