Outcome of Board Meeting held on Wednesday, June 11th, 2025.
Price
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Awaiting price reaction for this filing.
Board approved audited standalone and consolidated results for Q4 and FY ended March 31, 2025. Standalone revenue from operations fell to ₹38,985 lakh (from ₹44,634 lakh), while standalone profit after tax collapsed to ₹184 lakh (from ₹2,513 lakh). On a consolidated basis, revenue rose to ₹69,914 lakh (from ₹63,341 lakh) but the company slipped into a loss of ₹35 lakh versus a ₹5,837 lakh profit last year, with Q4 alone showing a ₹3,244 lakh consolidated loss. The Board appointed Geeta Canabar & Associates as Secretarial Auditor for five years (FY26–FY30), subject to shareholder approval. It also noted a BSE warning letter regarding promoter re-classification and acknowledged an ongoing investigation into a fraud committed by the CEO of Argo Anchor Shipping Service LLC, a step-down subsidiary.
Sharp year-on-year profit erosion and a consolidated quarterly loss raise concerns about margin pressure and the impact of the Red Sea crisis on shipping operations; the disclosed subsidiary fraud and BSE warning letter add governance overhang and may weigh on the stock in the near term.