Results- Financial Results March 31, 2025
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 FY25. Total revenue jumped sharply to Rs. 373.23 lakhs from Rs. 29.90 lakhs in FY24, and the company swung from a loss of Rs. 245.71 lakhs to a profit of Rs. 100.39 lakhs (EPS of Rs. 0.88 vs Rs. -2.16). The statutory auditor issued a qualified opinion for the sixth consecutive time, flagging that inventory worth Rs. 377.49 lakhs is carried solely at cost instead of the lower of cost or net realisable value, and the impact could not be quantified. Reserves and surplus remain negative at Rs. (713.35) lakhs, borrowings stand at ~Rs. 1,983 lakhs against a net worth of Rs. 424.67 lakhs, and cash flow from operations is negative at Rs. (19.41) lakhs. The notes also disclose that a bank has declared the company's loan account as NPA, with no interest or principal repayments being booked.
While the headline turnaround to profit is positive, the qualified audit opinion (6th time), negative reserves, very high debt-to-equity (~4.7x), NPA-status loan, and negative operating cash flow raise serious concerns about financial health and accounting quality. Shareholders should treat the profit number with caution as the auditor has not been able to verify the inventory valuation.