Intimation of outcome of Board meeting held on May 27, 2025
Awaiting price reaction for this filing.
S R Industries Limited (rehabilitated from CIRP, with Bazel International as the successful resolution applicant approved on July 1, 2024) reported audited results for FY25. The company recorded zero revenue from operations for both FY25 and FY24, with only Rs. 0.84 lakh in other income (down from Rs. 15.48 lakh). Net loss widened sharply to Rs. 86.64 lakh in FY25 from Rs. 10.01 lakh in FY24, driven by higher employee costs (Rs. 29.16 lakh vs Rs. 8.28 lakh) and other expenses. EPS stood at Rs. (0.44) for FY25. On the balance sheet, total equity turned positive at Rs. 1,207.24 lakh (from negative Rs. 3,252.62 lakh) due to Rs. 1,170 lakh share capital infusion under the resolution plan, and borrowings collapsed from Rs. 4,378.64 lakh to Rs. 152.38 lakh. Operating cash flow remained negative at Rs. (151.64) lakh. The statutory auditor (Krishan Rakesh & Co.) issued an unmodified/unqualified opinion.
The stock represents a shell-like company with no operating business, persistent losses, and negative operating cash flow, though the balance sheet has been cleaned up post-CIRP with fresh equity and debt wiped out. Shareholders should note there is no revenue-generating activity yet, so near-term earnings recovery is uncertain despite the improved capital structure.