we wish to inform you that the Board of Directors of the Company at its meeting held today i.e. Tuesday, May 27, 2025 inter-alia, considered and approved: 1. The Audited Financial Results ....
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The Board approved audited financial results for FY ended March 31, 2025. Total income jumped sharply to ₹934.38 lakh from just ₹6.46 lakh last year, but the company still reported a net loss of ₹219.95 lakh (slightly narrower than the ₹320.02 lakh loss in FY24). Total expenses rose to ₹1,196.26 lakh and EPS stood at ₹(1.48). Total assets grew to ₹4,036.41 lakh, though trade receivables and trade payables both ballooned sharply. The statutory auditor issued a qualified opinion flagging two issues: no system to obtain balance confirmations from parties, and failure to retrospectively adjust prior period errors as required by Ind AS 8. The Board also re-appointed Mr. Lalit Singh as Whole-time Director for 5 years, appointed Mr. Anand Kumar as Independent Director, and reconstituted key committees. A note mentions ₹36.17 lakh stuck in a lien/frozen bank account due to regulatory restrictions.
The qualified audit opinion and unconfirmed balances raise concerns about the reliability of receivables and payables figures, which shareholders should watch closely. While revenue surged dramatically, persistent losses and the related-party appointment (Mr. Lalit Singh is the father of MD/CFO Divya Singh Kushwaha) may weigh on investor sentiment.