Enclosed herewith Audited standalone and consolidated Financial Results for the quarter and year ended March 31, 2025, along with Auditors'' Report.
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Inducto Steel Limited reported FY25 revenue from operations of ₹15,856.71 lakhs, up ~52% YoY from ₹10,404.84 lakhs. However, the company swung to a loss with PAT of ₹(371.86) lakhs versus a profit of ₹16.14 lakhs in FY24, and EPS turned negative at ₹(9.26). Q4 FY25 revenue rose sharply to ₹4,018.59 lakhs (vs ₹2,073.49 lakhs in Q4 FY24) with a marginal PAT of ₹5.55 lakhs. Short-term borrowings surged roughly 4.7x to ₹1,640.72 lakhs, while operating cash flow was deeply negative at ₹(1,186.95) lakhs versus ₹(109.34) lakhs in FY24. The auditor issued an unmodified opinion but highlighted investments of ₹22.01 crores (~38.88% of total assets) in partnership firms facing recoverability risk. The board also appointed a new Secretarial Auditor for 5 years and Mr. Amol Shah as Internal Auditor for FY26.
Despite strong top-line growth, the swing to a net loss and large negative operating cash flow funded by sharply higher borrowings point to profitability and cash-conversion stress, which is negative for shareholders. The auditor's note flagging recoverability risk on partnership-firm investments worth ~39% of total assets adds an asset-quality overhang.