Audited Results for the FY ended 2025
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Kalpa Commercial Limited has filed its audited financial results for FY25 (year ended 31 March 2025). Total income stood at Rs 318.89 lakh versus Rs 157.44 lakh in FY24, driven by a sharp jump in revenue from operations (Rs 281.28 lakh vs Rs 156.50 lakh, up about 80%) and higher other income of Rs 37.61 lakh. However, total expenses ballooned to Rs 592.52 lakh from Rs 177.64 lakh, dragged up by steep purchases of stock-in-trade (Rs 281.97 lakh) and other expenses (Rs 294.56 lakh). As a result, the company reported a net loss of Rs 273.63 lakh for FY25 versus a loss of Rs 20.20 lakh in FY24, with loss per share widening to Rs 2.67 from Rs 0.20. The statutory auditor (SGR & Associates LLP) issued an unmodified (clean) opinion but flagged three emphasis-of-matter items: fair valuation of investments based on prior-year statements, and unconfirmed/unreconciled loan & advances and trade receivable balances.
Despite revenue nearly doubling, the company's losses have widened more than 13x year-on-year, signalling that costs are outpacing growth and profitability is deteriorating — this is a negative read for shareholders. The unconfirmed receivables and loan balances flagged by the auditor add governance and recoverability concerns, though the clean audit opinion limits immediate red flags.