42nd Annual Report of MSL Global Limited
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MSL Global Limited (formerly Madhusudan Securities Limited, BSE scrip code 511000) has submitted its 42nd Annual Report along with the AGM notice to BSE under SEBI Listing Regulations. The 42nd AGM is scheduled for Tuesday, 30th September 2025 at 11:30 AM via video conferencing. The company reported a sharp decline in financial performance for FY2024-25, with total revenue falling to Rs. 6.75 lakhs from Rs. 44.81 lakhs in the previous year, and a standalone loss of Rs. 52.32 lakhs (vs. a profit of Rs. 12.08 lakhs earlier); consolidated loss stood at Rs. 82.53 lakhs. No dividend has been recommended due to the losses. The company invested Rs. 457.45 lakhs to acquire a 20.66% stake in Compliance Kart Private Limited and plans to raise this to 75% in FY2025-26. An older advance of Rs. 12 crores paid to Primus Retail Pvt. Ltd. has been declared doubtful as Primus is under liquidation. During the year, the company issued 19 lakh equity shares at Rs. 18 each on a private placement basis and 2.34 crore convertible warrants, of which 5 lakh were converted into equity shares.
Weak FY25 results with revenue collapse and a swing to losses are negative signals for shareholders, and no dividend has been declared. However, management's pivot toward new investments (Compliance Kart) and the proposed increase in stake to 75% could be a positive forward-looking trigger, though execution and recovery risk on the Rs. 12 crore Primus advance remain concerns.