In Continuation to our letter dated 5th May, 2025 , we wish to inform you that Board of Directors at its meeting held today at 4:30 P.M. and concluded at 5:00 P.M have approved the following ....
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The Board approved audited results for Q4 and FY ended March 2025. Revenue from operations dipped slightly to Rs 291.04 lakhs (vs Rs 295.24 lakhs in FY24), but the company reported a wider net loss of Rs 110 lakhs (vs Rs 25.25 lakhs loss last year). A large negative Other Comprehensive Income of Rs 8,115.78 lakhs, driven by mark-to-market losses on equity investments held as FVOCI, cut reserves sharply from Rs 21,071.66 lakhs to Rs 12,845.88 lakhs. EPS worsened to Rs (10.18) from Rs (2.34). Statutory auditor M L Bhuwania and Co LLP issued an unmodified opinion. Mr. Maneck Davar was redesignated as Non-Executive Independent Director and Chairman, and M/s. Ragini Chokshi & Co. was appointed as Secretarial Auditor for 5 years (FY26–FY30), subject to shareholder approval. The company also disclosed paying a Rs 10,000 BSE fine for delayed filing of postal ballot voting results.
The wider loss combined with the steep drop in reserves (largely a non-cash investment valuation hit) may weigh on sentiment and the stock price. Governance changes (Chairman redesignation, new secretarial auditor) are routine, and the BSE fine is small, suggesting only minor compliance slippage rather than a serious red flag.