With reference to above mentioned subject, we hereby inform you that the Board of Directors at their meeting held on Friday, 30th May, 2025 at the registered office of the Company at 406, ....
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The Board approved standalone and consolidated audited financial results for Q4 and FY ending March 31, 2025. Total income jumped sharply to Rs. 6,781.98 lakhs in FY25 from Rs. 337.41 lakhs in FY24, and the company swung to a net profit of Rs. 4,553.27 lakhs versus a loss of Rs. (230.61) lakhs last year. EPS stood at Rs. 32.31 vs Rs. (1.64) previously. The auditor Vinod Kumar Jain & Co issued a Qualified Opinion for the fourth consecutive year, flagging Rs. 2.12 crores of unconfirmed interest receivable balances. A large part of the profit came from a one-time Rs. 5,284.75 lakhs gain on sale of fixed assets (reflected in Other Income). The Board also re-appointed Mr. Atul Jain as Managing Director for 5 years, re-appointed two Independent Directors, appointed a new Secretarial Auditor, and scheduled the AGM for August 30, 2025.
Shareholders should note that the headline profit turnaround is largely driven by a one-time asset sale rather than core real estate operations. The repeated qualified audit opinion (4th year in a row) on unconfirmed receivables is a governance red flag, though management states it is working to obtain confirmations. Operating cash flow remains negative despite reported profits, suggesting core business cash generation is weak.