Outcome of the Board Meeting
Price
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The Board approved audited financial results (standalone and consolidated) for Q4 and FY ended 31st March 2025, with the auditors (Lodha & Co LLP) issuing an unmodified opinion. No dividend was recommended for FY25. Standalone revenue from operations rose modestly to ₹16,178.73 lakhs (FY24: ₹14,810.03 lakhs), but the company still posted a net loss of ₹250.44 lakhs, significantly narrower than the ₹2,082.08 lakh loss in FY24. The improvement was largely driven by an exceptional gain of ₹1,248.50 lakhs from the sale of agricultural land. Q4 standalone revenue declined sharply to ₹2,758.70 lakhs from ₹3,574.99 lakhs a year ago, though the quarterly loss narrowed. The auditor flagged an emphasis of matter regarding overdue trade receivables of ₹1,823.61 lakhs and a ₹121.68 lakh security deposit from Rajasthan State Seeds Corporation, where arbitration went against the company on limitation grounds and a Section 34 application is pending. The Board also appointed M/s Ronak Jhuthawat & Co as Secretarial Auditors for five years (FY26–FY30), subject to shareholder approval.
The loss narrowed year-on-year, but profitability is propped up by a one-time land sale gain rather than core operations, and Q4 revenue fell sharply. The unresolved RSSC receivable is a notable overhang. No dividend means no cash return for shareholders, and near-term stock sentiment may remain weak given the operating losses.