Annual Report for the Financial Year 2024-25 and Notice of the 46th Annual General Meeting of the Company. Compliance under Regulations 34 of the SEBI (Listing Obligations and Disclosure ....
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Lerthai Finance Ltd (formerly Marathwada Refractories Limited) has submitted its Annual Report for FY 2024-25 along with the notice for its 46th AGM, scheduled for Tuesday, 9th September 2025 at 11:30 a.m. via video conferencing. The company reported a sharp decline in performance, with total income falling to Rs. 46.93 lakhs from Rs. 162.29 lakhs in the previous year, and it slipped into a loss of Rs. 1.88 lakhs after tax versus a profit of Rs. 75.94 lakhs in FY24. The Board has not recommended any dividend, citing the need to conserve reserves for future business growth. The company remains in a transitional phase after discontinuing its refractories business and is primarily earning interest income from fixed deposits while exploring new business opportunities. Shareholders will vote on adopting the financial statements, re-appointing two directors (Aparna Goel and Shao Xing Max Yang), and re-appointing B.D. Jokhakar & Co. as statutory auditors for another five-year term at a proposed remuneration of Rs. 3.77 lakhs for FY25-26.
The shift from profit to loss, combined with no dividend and the company's ongoing search for a new business direction, signals continued uncertainty for shareholders. Promoter Max Yang holds 75% of the equity, so voting outcomes at the AGM are largely in his hands, and the re-appointment of the existing auditor suggests stability rather than change.