Outcome of Meeting of Board of Directors dated 30th May 2025
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The Board of Directors of Innovassynth Investments Limited (the holding company) approved audited consolidated and standalone financial results for the quarter and year ended March 31, 2025, along with the Board's Report and MD&A for FY24-25. The statutory auditor (P G Bhagwat LLP) issued an unmodified opinion on both sets of results. On a consolidated basis, the company reported a loss after tax of Rs 468.74 lakh in FY25 versus Rs 84.41 lakh in FY24, mainly driven by a share of loss of Rs 353.41 lakh from its associate, Innovassynth Technologies (India) Ltd (versus Rs 14.88 lakh share of loss in FY24). On a standalone basis, the FY25 loss widened to Rs 115.33 lakh from Rs 69.55 lakh, with basic EPS of (Rs 0.44) vs (Rs 0.29). The Board also recommended appointing Amey Lotlikar & Co. as Secretarial Auditor for five years (April 2025 to March 2030), subject to shareholder approval. Merger-related expenses continue to be disclosed as exceptional items, and the proposed merger with the associate remains pending before NCLT.
Shareholders should note that losses have deepened materially, primarily because the company's fortunes are tied to its associate, Innovassynth Technologies (India) Ltd, which swung to a Rs 357 lakh comprehensive loss. With no operating revenue of its own, negative operating cash flows, and the merger still awaiting NCLT clearance, near-term investor sentiment may remain cautious until the associate's performance and merger outcome are clearer.