Revised filing of Integrated Financial results
GVPTECH · price
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GVP Infotech has submitted a revised version of its audited financial results for Q4 and FY25, after the auditor's impact-of-qualification statement was delayed. Revenue from operations collapsed to Rs. 569.02 lakhs in FY25 from Rs. 3,325.11 lakhs in FY24 — an 83% drop. The company swung from a net profit of Rs. 283.83 lakhs last year to a net loss of Rs. 264.33 lakhs this year, with EPS at minus Rs. 0.16. Q4 alone showed revenue of Rs. 152.34 lakhs (down from Rs. 661.50 lakhs a year ago) and a net loss of Rs. 211.39 lakhs. The statutory auditor issued a Qualified Opinion, flagging that no provision was made for doubtful debts of Rs. 110.02 crore from Minosha India (formerly Ricoh India), Rs. 40 crore from RUDSICO (Smart Rajasthan contract), and Rs. 7.90 crore from Linkwell Telesystems — all subject to ongoing arbitration/litigation. The auditor's report also notes there was a change in the statutory auditor during the year.
Negative for shareholders: a qualified auditor opinion, a sharp revenue collapse, a swing into loss, and large unresolved receivables (over Rs. 150 crore in disputed amounts) raise serious concerns about asset quality and earnings visibility. The auditor change during the year adds to the cautious tone.