Outcome Of Board Meeting Of The Company Held On May, 28, 2025
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Incon Engineers' board, meeting on May 28, 2025, approved audited financial results for Q4 and full year ended March 31, 2025. Revenue from operations rose to Rs 20.64 lakhs in FY25 from just Rs 0.45 lakhs in FY24, but total income (including other income) fell to Rs 24.06 lakhs from Rs 36.78 lakhs, reflecting weak core activity. The company posted a net loss of Rs 40.98 lakhs in FY25, slightly narrower than Rs 47.17 lakhs in FY24, with negative EPS of Rs 0.95. Other equity stood at a deeply negative Rs 606.89 lakhs, pushing total equity into the red at Rs -35.52 lakhs, and operating cash flow was negative Rs 42.60 lakhs. The board also reappointed G.P. Associates as internal auditors for FY26 and appointed MNM & Associates as secretarial auditor for five years (FY26 to FY30). Statutory auditor Brahmayya & Co. issued an unmodified (clean) opinion.
Shareholders should note the company continues to report losses, has eroded its net worth into negative territory, and burns cash from operations, all signs of ongoing financial stress despite a clean audit opinion. The auditor changes are routine reappointments and do not signal governance concerns, but the underlying business remains in distress.