1. AUDITED FINANCIAL RESULTS 2. STATEMENT OF DEVIATION OR VARIATION UNDER REGULATION 32 OF SEBI (LODR) REGULATIONS, 2015 3. Appointment of M/S. V R S K & ASSOCIATES (011199N) as Statutory Auditor ....
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The Board of Directors met on 31st May 2025 and approved the audited standalone and consolidated financial results for Q4 and FY ended 31st March 2025. For FY25, the company reported a standalone loss of about Rs 500.62 lakhs (as per Ind AS) on total revenue of Rs 106.45 lakhs from operations, while consolidated results showed a loss of about Rs 33.54 lakhs. The company also informed that Regulation 32 (variation in proceeds) is not applicable as no preferential issue was made. Key governance change: M/s N K Bhatt & Associates resigned as Statutory Auditor effective 21st May 2025, having been appointed only on 13th February 2025. To fill the resulting casual vacancy, the Board appointed M/s VRSK & Associates (FRN 011199N), based in Rohtak, as the new Statutory Auditor from 31st May 2025 until the next general meeting. No concerns or reasons were flagged in the auditor's resignation disclosure.
Shareholders should note the auditor change happening shortly after a fresh appointment, which may prompt governance questions, though no adverse reasons were disclosed. The deep FY25 standalone loss of ~Rs 500 lakhs against revenue of ~Rs 106 lakhs signals ongoing business stress, consistent with the company's recent shift in identity from a finance entity to a distillery venture.