This is to inform that the Board of Directors of the Company at its meeting held today i.e. on Friday 30th May, 2025 has inter-alia transacted the following business: 1. The Board has ....
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The Board approved audited standalone financial results for the quarter and year ended 31 March 2025, with the statutory auditor issuing an unmodified (clean) opinion. The company swung from a profit of Rs. 46.94 lakhs in FY24 to a loss of Rs. 30.50 lakhs in FY25, driven largely by a Rs. 40.61 lakh mark-to-market loss on investments and higher administrative expenses (Rs. 54.32 lakhs vs Rs. 25.18 lakhs). Total revenue declined to Rs. 83.70 lakhs from Rs. 103.32 lakhs the previous year, while revenue from operations remained negligible at Rs. 7.71 lakhs. Cash and equivalents dropped sharply from Rs. 94.80 lakhs to Rs. 51.41 lakhs, partly due to a Rs. 25 lakh loan given to Vedavaag Systems Ltd and increased investments. The Board also appointed M/s G.R. Gupta & Associates as Secretarial Auditors for a five-year term.
Shareholders should note the company has slipped back into a loss after a profitable FY24, with a weak core business (almost no revenue from operations) and shrinking cash reserves. However, equity remains intact at ~Rs. 120 lakhs and the auditor has given a clean opinion, with no going concern flag raised.