ANNUAL REPORT FOR FY 2024-25, AS PER ATTACHMENT.
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Awaiting price reaction for this filing.
Ghushine Fintrrade Ocean Limited, a textile company listed on the BSE SME platform, has filed its 30th AGM notice and annual report for FY 2024-25. The AGM is scheduled for September 29, 2025, in Surat. Total income jumped sharply to Rs. 475.54 lacs from Rs. 167.27 lacs in the previous year, but profit after tax remained marginal at Rs. 0.34 lacs (vs Rs. 0.02 lacs). No dividend was recommended. Key business items include reappointment of Managing Director Alok Bhopalsingh Jain for 5 years (with salary raised from Rs. 40,000 to Rs. 1,00,000 per month), appointment of a new Independent Director, and appointment of a Secretarial Auditor. BSE has suspended trading in the company's securities, and SEBI has levied fines totaling over Rs. 13.6 lacs including a Rs. 11.54 lacs penalty under SEBI SOP circular. The Registrar of Companies has also imposed a Rs. 1 lakh penalty each on the company and MD, currently under challenge in the Gujarat High Court. The board has acknowledged that if these liabilities crystallize, they could impact the company's financial position and going concern status.
The 3x revenue growth is positive on paper, but negligible profits suggest thin margins. Trading suspension, regulatory penalties, and the going concern risk flagged by the board itself are serious red flags that could weigh on the stock and shareholder value. The MD's salary increase from Rs. 40,000 to Rs. 1,00,000 per month may draw scrutiny given the company's marginal profitability and regulatory troubles.