It is informed that meeting of Board of Directors of the Company was held today at 12:30 p.m (IST) at the head office of the Company and the following businesses amongst others were transacted ....
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The Board of Directors of Jai Mata Glass Ltd met on May 22, 2025 and approved the audited standalone financial results for Q4 and the full financial year ended March 31, 2025. The statutory auditors M/s Khiwani Sood & Associates issued an unmodified (clean) opinion on the results. The Board also re-appointed Mr. Santosh Kumar Agarwal as Internal Auditor and M/s Navneet Kumar & Associates as Secretarial Auditors for FY 2025-26. For FY25, the company reported a loss after tax of Rs. 50.66 lakhs, compared to a profit of Rs. 1.55 lakhs in FY24, mainly because of a one-time tax expense of Rs. 92.75 lakhs booked under the Direct Tax Vivad Se Vishwas Scheme, 2024, which was used to settle old income tax disputes of Assessment Years 2013-14 and 2017-18. Total income fell from around Rs. 5,335 lakhs to Rs. 4,370 lakhs year-on-year, and net cash used in operating activities remained negative at Rs. 7.32 lakhs (vs Rs. 14.99 lakhs last year).
The shift to a loss and a one-time tax payout will weigh on near-term earnings, but the underlying business continues to operate and the disputed tax issues are now closed, reducing future uncertainty. The clean audit opinion with an emphasis-of-matter note and no auditor change should be viewed as neutral-to-slightly-negative for shareholders.