Integrated Filing(Financial)
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Incon Engineers Ltd reported audited FY25 results with revenue from operations of ₹20.64 lakhs versus just ₹0.45 lakhs in FY24, but other income fell to ₹16.14 lakhs from ₹23.61 lakhs. The company posted a net loss of ₹40.98 lakhs for FY25, slightly narrower than the ₹47.17 lakhs loss in FY24, with EPS of ₹(0.95). Total expenses rose to ₹77.76 lakhs from ₹71.23 lakhs. The balance sheet shows deeply negative other equity of ₹(606.90) lakhs, making total equity negative at ₹(35.52) lakhs, while borrowings stand at ₹70.10 lakhs. Operating cash flow remained negative at ₹(42.60) lakhs, with financing activities bringing in ₹29.11 lakhs to keep the business running. The statutory auditor issued an unmodified (clean) opinion.
Shareholders should note the company continues to report losses with negative net worth and relies on borrowings to fund operations, raising serious going-concern worries despite a clean audit opinion. The sharp revenue uptick from a near-zero base is encouraging but too small to cover expenses, and the stock remains a high-risk investment.