Outcome for Board Meeting held on May 26, 2025.
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The board approved audited standalone and consolidated financial results for FY25 along with an unmodified auditor's opinion from Ashok Dhariwal & Co. On a standalone basis, revenue from operations jumped to Rs 11,808.53 lakh from Rs 4,554.91 lakh in FY24 (around 159% growth), driven mainly by the Woven Sacks Division. The company swung from a loss after tax of Rs 276.37 lakh in FY24 to a profit of Rs 574.37 lakh in FY25, with basic EPS rising to Rs 5.38 from a negative Rs 2.46. On a consolidated basis, revenue grew to Rs 46,343.54 lakh (from Rs 29,455.55 lakh) and PAT surged to Rs 1,332.91 lakh (from Rs 30.81 lakh). Other board approvals include appointing BDO India LLP as internal auditor, appointing M/s SCS and Co LLP as secretarial auditor, disinvesting from the Malaysia subsidiary, ratifying the start of a new Unit 4 from April 1, 2025, and raising investment up to 70% in Saeed Ghodran Group, Saudi Arabia through an extended MOU.
Strong turnaround story for shareholders with revenue and profits sharply higher year-on-year, but cash flow from operations remains negative on both standalone (Rs -1,274 lakh) and consolidated (Rs -1,844 lakh) bases, pointing to working capital pressure despite the profit recovery. Expansion moves (new unit, Saudi investment) signal growth ambition, while the Malaysia exit is a portfolio rationalisation.