Annual Report for the Financial Year 2024-25.
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Indian Acrylics Ltd submitted its 38th Annual Report for FY2024-25, with the AGM scheduled for September 29, 2025. Revenue from operations fell sharply to Rs. 38,933.14 lakh from Rs. 54,616.29 lakh in the previous year, a drop of about 29%, due to a surge in cheap imports of acrylic fibre, yarn and knitted fabrics, mainly from China. The company posted a net loss of Rs. 3,086.11 lakh, narrower than the Rs. 5,405.09 lakh loss in FY2023-24, helped by lower interest costs (Rs. 1,854.39 lakh vs Rs. 3,250.35 lakh) and a turnaround in operating profit before depreciation, interest and tax to Rs. 134.94 lakh from a loss of Rs. 625.45 lakh. Production of acrylic fibre dropped to 16,592 MT (from 24,751 MT) and acrylic yarn to 6,275 MT (from 9,959 MT). No dividend was recommended as there are no distributable profits. The wholly owned subsidiary Carlit Trading Europe (Spain) remains suspended due to weak European demand and high energy costs.
Shareholders will see continued losses, though the loss narrowed materially this year, while top-line shrank sharply due to unfair import competition; the recent government tariff hike on knitted fabrics may support a recovery, but no near-term dividend or earnings visibility is in sight.