Appointment of M/s N R G and Co., Chartered Accountants (Reg. No. 013417S), as the Internal Auditor of the Company, for the Financial year 2025-26
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Infronics Systems reported audited FY25 results with revenue of Rs 434.06 lakhs and net profit of Rs 112.38 lakhs (EPS Rs 1.42), down sharply from Rs 252.12 lakhs profit in FY24. The statutory auditor issued an unmodified opinion but flagged a serious concern: the company's BSNL SMS service contracts concluded during the year and were not renewed, leaving the company with no active business as of March 31, 2025. The company holds Rs 308.85 lakhs in cash, which management says is enough to settle all liabilities. The board also appointed M/s N R G and Co. as Internal Auditor and M/s ASN & Associates as Secretarial Auditor for FY26.
Highly negative signal for shareholders — the company has effectively ceased operations after losing its only major contract, raising serious doubts about future revenue and business continuity. While cash reserves provide a short-term cushion, the stock is likely to face pressure unless the company announces a new business direction or acquisition soon.