We are submitting herewith Notice of 33rd AGM and Annual Report for F.Y. 2024-25.
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Kush Industries Ltd has submitted the Notice of its 33rd Annual General Meeting (to be held on 30th September 2025 via video conferencing) along with the Annual Report for FY 2024-25. The financial results reveal a sharp decline in sales to Rs. 0.92 lakh from Rs. 66.32 lakh in the previous year. The company reported a loss before tax of Rs. 5.21 lakh versus a profit of Rs. 227.08 lakh in FY 2023-24 (which included an exceptional item of Rs. 231.40 lakh). Accumulated losses carried forward stand at Rs. 2,209.41 lakh, indicating prolonged financial stress. The AGM also seeks shareholders' approval to appoint M/s. P S S P & Co. as new statutory auditors for 5 years, replacing V H Gundarwala & Co. upon completion of their term, and to appoint M/s. Nishant Pandya & Associates as secretarial auditors for FY 2025-26 to 2029-30.
For shareholders, the key concern is the near-collapse of revenue and persistent accumulated losses exceeding Rs. 22 crore, suggesting serious going concern risks. The auditor rotation is routine (end-of-term), but the deteriorating operations and continued losses may weigh on the stock price and raise doubts about the company's ability to continue as a going concern.