This is to inform you that the Board of Directors of Gleam Fabmat Limited at their meeting held on Thursday, 29th May, 2025, at the Registered Office of the Company situated at Office No. ....
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Gleam Fabmat Limited's Board, at its meeting on 29 May 2025, approved the standalone audited financial results for the half year and full year ended 31 March 2025. Total income surged dramatically to Rs. 1,239.90 lakhs (from Rs. 82.92 lakhs in FY24), driven by revenue from operations of Rs. 1,226.17 lakhs (up from Rs. 65.44 lakhs). However, net profit collapsed to just Rs. 1.01 lakhs (vs Rs. 8.31 lakhs) and EPS slipped to Rs. 0.01 from Rs. 0.08. The statutory auditor (Kapish Jain & Associates) issued a Qualified Opinion, citing that the company has not provisioned for interest on a Rs. 2.06 crore Axis Bank loan default that has been pending before the Debt Recovery Tribunal since 2019. Trade receivables ballooned to Rs. 2,140 lakhs (from Rs. 900.73 lakhs) and operating cash flow was negative at Rs. (12.87) lakhs. Reserves remain in the red at Rs. (14.55) lakhs.
Despite the sharp top-line jump, profitability has almost vanished and the business is burning cash from operations, signalling thin margins and weak earnings quality. The qualified audit opinion, unresolved DRT proceedings, and the personal property of a director (Mrs. Puspha Gupta) already attached as collateral point to serious financial stress. Shareholders should treat this as a high-risk, small-cap stock with significant overhang from credit and legal issues.