Revised financial results for the quarter and year ended 31.03.2025
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Integrated Thermoplastics, a Hyderabad-based PVC pipes manufacturer, reported audited FY25 results with the auditor issuing a qualified opinion. The company incurred a net loss of Rs. 605.96 lakhs in FY25, an improvement from Rs. 1,003.41 lakhs loss in FY24, but it remains deeply unprofitable. The auditor flagged serious going concern doubts: net worth is fully eroded (negative other equity of Rs. 5,495.23 lakhs), and accumulated losses stand around Rs. 6.49 crores. The company has defaulted on loans from APSFC (Rs. 19.42 crores outstanding) and Union Bank of India (facilities of Rs. 9.79 crores classified as NPA since Nov 2021). An operational creditor (SP Coal Resources) had filed for insolvency with NCLT in February 2022, and an unresolved land dispute case is pending in Medak court. Operating cash flow was negative at Rs. 243.92 lakhs, and tax disputes totaling Rs. 116.59 lakhs have not been provided for in the books.
This is a stock in severe financial distress - qualified audit, negative net worth, multiple loan defaults, and pending insolvency proceedings pose existential risk to shareholders. Equity holders are last in line and likely to face significant dilution or total loss if restructuring occurs.