Laxmi Cotspin Limited has informed the Exchange regarding Board meeting held on May 21, 2025.
LAXMICOT · price
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Laxmi Cotspin reported its audited FY25 results, with total income from operations rising modestly to Rs. 15,370.79 lakhs from Rs. 14,943.48 lakhs in FY24 (~2.9% growth). However, the company slipped into a core loss of Rs. 479.95 lakhs for the year (before extraordinary items), compared to a small loss of Rs. 27.65 lakhs in FY24, driven by higher finance costs (Rs. 457.76 lakhs) and rising material/employee expenses. A one-time gain of Rs. 526.73 lakhs from the sale of an asset pushed the reported net profit to Rs. 48.14 lakhs (vs. a loss of Rs. 28.27 lakhs last year). Operating cash flow swung positive to Rs. 209.13 lakhs from negative Rs. 838.09 lakhs. The board also approved a Postal Ballot Notice for the sale of machinery, and the company partly sold land to its wholly owned subsidiary during the year. Auditor DMKH & Co. issued an unqualified opinion.
Core profitability has sharply deteriorated, with FY25 swinging to a sizeable operating loss before extraordinary items, raising concerns about underlying business health. However, the reported profit is only sustained by a one-time asset sale, and shareholders should note the proposed machinery sale and weak core margins going forward.