Audited Financial Results (Standalone and consolidated) for the Quarter And Year Ended March 31, 2025
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The Board approved audited financial results for Q4 and FY25 with an Unmodified Opinion from statutory auditors Kailash Chand Jain & Co. On a consolidated basis, the company swung to a profit of Rs. 114.40 lakhs versus a loss of Rs. 19.91 lakhs in FY24, with total income rising to Rs. 450.68 lakhs from just Rs. 1.00 lakh. Total assets surged dramatically to Rs. 28,070.42 lakhs from Rs. 170.45 lakhs, largely driven by Rs. 14,939 lakhs of Capital Work-in-Progress and fresh equity infusion of Rs. 22,192.65 lakhs. The company raised Rs. 115.98 lakhs via a rights issue of 3.31 lakh equity shares at Rs. 35 each, and formed a new joint venture Global Premier Limited with Premier Explosives. Mr. Mukesh Ranga was appointed as Company Secretary, and M/s. ADV & Associates was reappointed as Internal Auditor. FY24 figures are standalone only and not comparable, as this is the first year consolidating three new subsidiaries.
For shareholders, the results reflect a strategic transformation from a loss-making entity into a defence-sector play with massive capital expenditure in progress (CWIP of nearly Rs. 149 crore). Actual operational revenue remains negligible at Rs. 16.07 lakhs, so the investment thesis hinges on successful execution of ongoing defence projects. The dilution from fresh equity issuance may weigh on per-share metrics in the near term.