Kridhan Infra Limited has informed the Exchange about Addendum
KRIDHANINF · price
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Kridhan Infra reported FY24 standalone revenue from operations of around Rs 7,077 lakhs, roughly flat versus Rs 7,030 lakhs in FY23. The company posted a standalone loss before tax of Rs 2,501 lakhs, a sharp improvement from Rs 5,512 lakhs loss in FY23, helped by lower exceptional charges. Consolidated loss for FY24 was Rs 20,912 lakhs versus Rs 54,334 lakhs in the previous year. The auditor (B.R. Kotecha & Co.) issued a qualified opinion on both standalone and consolidated results, flagging non-provision of interest on NPA borrowings and the Singapore subsidiary under liquidation. Standalone net worth is deeply negative at Rs (35,378) lakhs, fully eroded by accumulated losses, with defaults in working capital borrowings and an in-principle One Time Settlement pending with lenders. Operating cash flow turned negative at Rs (690) lakhs on a standalone basis.
This is a stressed company with fully eroded net worth and continuing losses, though the magnitude of losses has narrowed. Shareholders face significant going-concern risk, dependent on successful completion of the One Time Settlement with lenders; stock remains high-risk with the auditor's qualified opinion highlighting unresolved interest provisioning and impairment issues.