Outcome of Board Meeting held on May 28, 2025: 1. Approval of the Audited Financial Results for the Quarter and Financial year ended March 31, 2025 along with the Audit Report for the ....
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The board approved audited financial results for the quarter and year ended March 31, 2025. Critically, the company disclosed that its main business — BSNL contracts for providing SMS services to banks — was fully concluded during FY25 and has not been renewed, meaning the company has no active business as of March 31, 2025. Revenue from operations for FY25 stood at ₹434.06 lakhs with profit after tax of ₹112.38 lakhs (down from ₹252.12 lakhs in FY24, a ~55% decline). EPS fell to ₹1.42 from ₹3.18. The company has cash and equivalents of ₹308.85 lakhs and states it has sufficient cash to settle all liabilities. Other equity remains deeply negative at (₹457.95 lakhs). The auditor issued an unmodified (clean) opinion but included an Emphasis of Matter paragraph flagging the absence of active business. The board also appointed a new Secretarial Auditor (M/s ASN & Associates) and a new Internal Auditor (M/s N R G and Co).
This is a highly negative signal for shareholders — the company effectively has no operating business after its core BSNL contracts ended, raising serious questions about future revenue, going concern, and the rationale for remaining listed. While the cash balance covers liabilities for now, the absence of active operations and negative reserves make this a high-risk situation; investors should expect very high volatility and should treat the stock with extreme caution.