Pursuant to Regulation 30 and 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform you that the Board of Directors of the Company at their Meeting ....
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Vuenow Infratech Limited (formerly Good Value Irrigation Limited) announced audited standalone results for Q4 and FY ended March 31, 2025. Revenue from operations for FY25 stood at Rs. 3,772.60 lakhs, but profit after tax collapsed to Rs. 131.85 lakhs from Rs. 512.30 lakhs in FY24, a fall of about 74%. Q4 FY25 swung to a loss of Rs. 134.86 lakhs against a profit of Rs. 404.36 lakhs in Q4 FY24. The company's reserves are deeply negative at Rs. (1,378.88) lakhs, though net worth remains Rs. 897.75 lakhs. Statutory auditor Kapish Jain & Associates resigned with immediate effect on May 30, 2025, citing persistent difficulties in getting documentation and resolving audit issues. The auditor issued a qualified opinion because management could not provide confirmations for closing balances of trade receivables, trade payables, and loans & advances, and this qualification is repetitive rather than a first-time issue.
Shareholders should note the sharp FY25 profit decline, Q4 loss, and negative reserves as red flags. The auditor's resignation over coordination problems and a repeat qualified opinion raise concerns about financial reporting quality and governance, which could weigh on the stock and complicate future audits.