OUTCOME OF BOARD MEETING TO APPROVE FINANCIAL RESULTS FOR THE YEAR ENDED 31.03.2025 ATTACHED
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The Board of KMG Milk Food Ltd approved its audited standalone financial results for Q4 and FY ended 31 March 2025. Revenue from operations surged to Rs 677.34 lakhs in FY25 from Rs 194.63 lakhs in FY24, a jump of around 248%. Despite this top-line growth, the company slipped into a loss with a FY25 net loss of Rs 45.68 lakhs versus a profit of Rs 11.22 lakhs in the previous year. Q4 standalone PAT was a loss of Rs 28.54 lakhs against a profit of Rs 23.71 lakhs in Q4 FY24. Total reserves are deeply negative at Rs -638.76 lakhs and overall net worth is negative at Rs -108.29 lakhs, while long-term borrowings rose to Rs 700.66 lakhs. The statutory auditor issued an unmodified opinion but flagged an emphasis of matter noting that the company did not appoint any internal auditor during the year. Independent Director Vipul Singla resigned citing personal engagements. The company also stated that its Regulation 24A and Reg 23(9) obligations do not apply due to its small paid-up capital and net worth.
Negative for shareholders — despite revenue tripling, the company swung to a loss, its net worth is already negative and worsening, and operating cash flow remains negative, signalling continued financial stress. The lack of an internal auditor and a director resignation add to governance concerns.