Disclosure of Audited Standalone and Consolidated Financial Results of the Company for the quarter/year ended 31.03.2025
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Kandagiri Spinning Mills reported a standalone net loss of Rs. 79.28 lakhs for FY25, narrower than the Rs. 176.74 lakhs loss in FY24. Revenue from operations grew ~30% year-on-year to Rs. 195.73 lakhs (vs Rs. 150.31 lakhs), but total income fell sharply to Rs. 203.10 lakhs due to a one-time other income in FY24. Q4 FY25 showed a standalone profit of Rs. 50.93 lakhs, driven entirely by a Rs. 100 lakhs interest waiver by the promoter S. Devarajan on an unsecured loan. Net worth remains fully eroded at negative Rs. 725.36 lakhs, and current liabilities (Rs. 273.45 lakhs) continue to exceed current assets (Rs. 76.94 lakhs). The auditor (Krishnen & Associates) issued a qualified opinion for the sixth consecutive year, flagging a material going concern uncertainty. On a consolidated basis (with associate SPMM Healthcare), the FY25 loss was Rs. 70.65 lakhs.
This is a deeply distressed micro-cap with negative net worth, recurring qualified audit opinions, and dependence on promoter support for survival. The headline Q4 profit is non-recurring in nature (driven by an interest waiver rather than operations). Shareholders face high risk: the company is technically insolvent on a balance sheet basis, and despite the going concern assumption being retained by management, there is no equity cushion. Existing shareholders should expect continued volatility and dilution risk if fresh capital is raised.