Result Financials for the quarter & year ending on 31st March 2025
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The board approved audited standalone and consolidated FY25 results. Standalone net loss narrowed to Rs 83.41 lakh from Rs 111.20 lakh, with revenue rising to Rs 138.73 lakh from Rs 87.00 lakh (~59% growth). Consolidated losses widened to Rs 319.76 lakh from Rs 192.45 lakh, but total income jumped to Rs 1,181.96 lakh from Rs 514.21 lakh (~130% growth), driven by a new alcohol and beer segment following the acquisition of Empyrean Spirits Pvt Ltd (98% stake via share swap). The company also divested its entire 15.95 lakh shareholding in Roam1 Telecom (former material subsidiary) to one of its directors, and was renamed from VirtualSoft Systems to Kati Patang Lifestyle effective 24 December 2024. A rights issue of approximately Rs 15 crore was approved to fund the new liquor business direction. Saket Billa & Associates were appointed as Secretarial Auditors and Dinesh Bajaj & Co as Internal Auditors. The statutory auditor issued an unmodified opinion with an emphasis-of-matter paragraph on the structural changes. Operating cash flow remained deeply negative on both standalone (-Rs 300 lakh) and consolidated (-Rs 126 lakh) bases.
Strong top-line growth from the new beer business signals a clear pivot, but widening consolidated losses, deeply negative operating cash flows, and high leverage (consolidated debt now exceeds equity) suggest near-term profitability remains a concern. The Rs 15 crore rights issue will be dilutive for existing shareholders, while the related-party sale of the former telecom subsidiary to a director warrants close scrutiny.