Financial Results for year ended 31 March 2025
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Growington Ventures India Ltd (formerly VMV Holidays), a fruit trading company, reported audited results for FY25 on May 22, 2025 with an unmodified audit opinion from D K Chhajer & Co. Standalone revenue from operations more than doubled to Rs 6,108.58 lakhs vs Rs 3,034.22 lakhs in FY24, a jump of about 101%. Standalone profit after tax rose 40% to Rs 245.85 lakhs (vs Rs 175.52 lakhs), while consolidated PAT grew sharply by about 117% to Rs 247.71 lakhs (vs Rs 114.19 lakhs), aided by the subsidiary Elementures Foodstuff Trading LLC (UAE). On the downside, EBITDA margin compressed from roughly 9.5% to about 7.5% as cost of traded goods rose in line with revenues, operating cash flow remained negative at Rs (285.48) lakhs, and short-term borrowings surged from Rs 297.69 lakhs to Rs 789.09 lakhs. A large related-party sale of about Rs 586 lakhs was made to Growenture Private Limited, a promoter group entity.
The strong top-line and PAT growth, especially on a consolidated basis, is a positive signal for shareholders, but margin compression, continued negative operating cash flow, and the sharp rise in borrowings alongside a sizeable related-party sale to a promoter group company warrant closer scrutiny. Net impact is mixed — business is scaling but profitability quality and cash conversion remain weak.