The Board at its meeting held today has considered and approved the adoption of new set of Articles of Association, subject to the approval of shareholders at the ensuing Annual General Meeting.
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IP Rings Ltd's board approved audited standalone and consolidated financial results for Q4 and FY ended March 31, 2025. Standalone revenue from operations fell about 4.2% to Rs 30,337.55 lakhs (from Rs 31,671.88 lakhs in FY24). The company reported a wider standalone net loss of Rs 319.79 lakhs versus Rs 273.14 lakhs loss in FY24, with EPS at Rs (2.52). Consolidated net loss was Rs 442.60 lakhs, including a Rs 124.83 lakhs share of loss from its joint venture IPR Eminox Technologies. The statutory auditor M.S. Krishnaswami & Rajan issued an unmodified opinion. The board also approved the re-appointment of Mr. A. Venkataramani as Managing Director for 3 years (till June 2028), appointed a new Secretarial Auditor for 5 years, and adopted new Articles of Association subject to shareholder approval.
Persistent net losses, declining top line, and a wider loss on a consolidated basis are negative signals for shareholders. However, operating cash flow remained positive at around Rs 19.4 crore, and the auditor's clean opinion provides some comfort.