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Awaiting price reaction for this filing.
Integrated Hitech reported audited results for Q4 and FY ending March 31, 2025, with total revenue of just Rs. 3.76 lakhs (down from Rs. 6.66 lakhs in FY24) and a net loss of Rs. 302.80 lakhs for the full year, though narrower than the Rs. 768.60 lakh loss in FY24. The company has impaired Rs. 63.07 lakhs of its investment in US subsidiary Integrated Hitech (America) Corporation and fully written off its Singapore subsidiary investment to zero. The board has approved a proposal for capital reduction of up to Rs. 10 crores to offset accumulated business losses, as past investments in income-tax software have become obsolete. Other actions include appointing a new CFO (Ms. Iranee Tripathi) after the resignation of Ms. Shantwana Adhikari, along with new Secretarial and Internal Auditors. Total equity has turned deeply negative at Rs. -42.72 lakhs, and total assets have collapsed from Rs. 352.74 lakhs to Rs. 13.05 lakhs year-on-year.
This is a very negative filing for shareholders. The company is effectively admitting its core software business is unviable, is wiping out shareholder equity via a Rs. 10 crore capital reduction, and is replacing senior finance leadership. Shareholders face significant value erosion risk, and the stock is likely to react sharply downward given the negative net worth and continued losses.