Outcome of Board Meeting
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
The board approved audited financial results for FY ended March 31, 2025. The company reported a strong turnaround, with revenue rising sharply from Rs. 25.43 lakhs in FY24 to Rs. 322.34 lakhs in FY25, and profit after tax swinging from a loss of Rs. 245.71 lakhs to a profit of Rs. 100.39 lakhs (EPS of Rs. 0.88). However, the statutory auditor (Keyur Shah & Associates) issued a qualified opinion for the sixth consecutive time, flagging that inventory worth Rs. 377.49 lakhs was carried only at cost and not at the lower of cost or net realisable value, a departure from accounting standards. The company also disclosed that a bank has classified its account as an NPA, with no interest or principal repayment being booked. Net cash from operating activities remained negative at Rs. (19.41) lakhs. The board re-appointed Prachi Bansal & Associates as secretarial auditors for five years (FY26–FY30) and Omprakash Luthra as internal auditor for FY26.
The profit turnaround and revenue surge are positive optics, but they are heavily diluted by a repeated (6th time) audit qualification, a bank NPA classification, and continued negative operating cash flow — all of which raise concerns about the reliability of reported numbers and the company's debt-servicing capacity. Shareholders should watch for resolution of the inventory valuation issue and any updates from the NPA-classifying bank.