Audited Standalone Financial Results and Audited Standalone Financial Statements along with Auditor''s Report of the Company for the quarter and year ended March 31, 2025
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Laddu Gopal Online Services Limited (formerly ETT Limited) reported FY25 total income of ₹322.20 lakhs, up about 17% from ₹274.20 lakhs in FY24, but net profit fell roughly 31% to ₹120.49 lakhs from ₹173.49 lakhs, with EPS dropping to ₹0.45 from ₹1.67. Q4 (March 2025) swung to a loss of ₹58.56 lakhs versus a profit of ₹39.49 lakhs in Q4 last year, driven by a sharp spike in other expenses to ₹121.47 lakhs. The statutory auditor issued a qualified opinion flagging three issues: the company appears to be acting as an NBFC (more than 50% of assets and income from financial assets) but does not hold an RBI Section 45-IA registration, loans and advances to corporates exceed Section 186 limits, and certain balances are subject to confirmation. Operating cash flow turned sharply negative at ₹(1,432.73) lakhs versus ₹163.38 lakhs last year, with the company raising ₹2,488 lakhs through fresh share issuance to bolster its cash position. The board also shifted the corporate office and appointed a new secretarial auditor for FY25.
The qualified opinion and NBFC registration concern are serious red flags — the company may be operating outside its legal framework, which could invite regulatory action. Shareholders should note the steep profit decline, the Q4 loss, and the deeply negative operating cash flow, though the recent equity raise of ~₹25 crore strengthens the balance sheet. This is a small, thinly-traded micro-cap and the disclosures suggest heightened risk rather than fundamental improvement.