The Board of Directors have taken on record the Audited Financial Results for the Financial year 31.03.2025
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Awaiting price reaction for this filing.
Integrated Thermoplastics Limited reported audited results for FY25 with revenue from operations falling to Rs. 642.82 lakhs from Rs. 863.49 lakhs in FY24, a decline of roughly 26%. The company posted a net loss of Rs. 605.95 lakhs, slightly improved from last year's loss of Rs. 1,003.41 lakhs. The auditor (Grandhy & Co.) issued a Qualified Opinion, flagging pending confirmations of receivables/payables and absence of an internal auditor. The auditor also highlighted that accumulated losses of Rs. 64.95 crore have fully eroded net worth, creating going concern uncertainty. Loans from APSFC (Rs. 19.42 crore) and Union Bank of India (Rs. 9.79 crore, classified as NPA since Nov 2021) are in default. An operational creditor had filed for corporate insolvency resolution with NCLT in Feb 2022.
Severely negative — the company is loss-making with fully eroded net worth, defaulted on bank loans (NPA status), faces an insolvency petition, and the auditor flagged going concern doubts. Shareholders face very high risk; stock is likely to remain under pressure and the company may be vulnerable to NCLT proceedings.