Intimation of outcome of Board Meeting under Regulations 30 and 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015
Awaiting price reaction for this filing.
Rathi Graphic Technologies Limited's Board approved audited standalone financial results for Q4 and FY ended March 31, 2025, with an unmodified audit opinion from M/s. H G & Co. The company, which was under CIRP since February 2020, had its resolution plan approved by NCLT in July 2023 and new management (Surbhika Steels and Daga Infrastructure) took over in February 2025. Manufacturing operations remain temporarily shut and are yet to be revived. The company reported nil revenue from operations and a net profit of Rs 1,157.84 lacs for FY25, driven almost entirely by extraordinary items — reversal of doubtful debt provisions (Rs 880.19 lacs) and reversal of investment diminution provisions (Rs 12.46 lacs). EPS stood at Rs 7.01 versus Rs (0.38) in FY24. Total equity remains negative at Rs (25.01) lacs, and 99% of existing share capital was cancelled post FY closure on April 24, 2025.
The profit is non-operational and stems from one-time accounting write-backs rather than business activity, so it does not reflect a turnaround. With operations still dormant, negative equity, and a 99% share capital cancellation, existing shareholders face significant dilution risk; the stock is essentially a shell awaiting revival under new promoters.