This is to inform that the Board of Directors of the Company at their meeting held on 24th April, 2025 have considered, approved and recommended the attached agenda items.
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The Board approved audited financial results for Q4 and FY ended 31st March 2025 with an unmodified (clean) auditor opinion from AMK & Associates. Key numbers: Total comprehensive income was a loss of Rs. 54 lakhs for the full year (vs. Rs. 20 lakhs last year), diluted EPS was Rs. (0.20), and operating cash flow was negative at Rs. (76) lakhs. An exceptional item of Rs. 33 lakhs was booked for expenses related to a past caustic soda plant sale. The Board also approved the sale of the company's Wind Mill Division (which contributed 96% of turnover at Rs. 1,619.20 lakhs) to M/s Vaishnav Infra Pvt Ltd as a going concern on a slump sale basis for Rs. 276 lakhs, pending shareholder approval. Additionally, the Electric Business Division was permanently closed, and new appointments were made for Company Secretary and Secretarial Auditor.
This is a major restructuring where the company is exiting its wind power and electric divisions and refocusing on its chemical trading business. Shareholders should note the reported net loss, negative operating cash flow, and that the bulk of operating revenue (96%) is being divested — proceeds will be used for working capital and expansion of the chemical trading core. The slump sale consideration is below the division's contribution to turnover/net worth, so investors should watch for shareholder approval and completion timelines.