Financial Results for the Quarter and Year Ended March 31, 2025 along with the Statutory Auditor report of the Company.
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Awaiting price reaction for this filing.
Maruti Securities Limited reported a net profit of Rs. 1,301.21 lakhs for FY25, swinging from a loss of Rs. 23.50 lakhs in FY24. However, this profit is entirely driven by a one-time write-back of an unsecured loan of Rs. 1,430 lakhs that the company deemed not payable — actual revenue from operations is effectively zero. The company has no operational activity, accumulated losses of Rs. 2,689.84 lakhs, and completely eroded net worth (negative equity of Rs. 2,165.13 lakhs). Q4 FY25 standalone actually posted a loss of Rs. 108.59 lakhs. New promoters with infrastructure sector background have taken over, and the company plans to alter its object clause to restart operations in the infrastructure space.
Statutory auditors (P. Murali & Co.) issued a qualified opinion citing material uncertainty about the company's ability to continue as a going concern. Despite this, the company filed a separate declaration claiming an 'unmodified opinion' from the auditor, which contradicts the actual audit report. Shareholders should view this filing with significant caution — the apparent profit is not from real business, the business is a non-operating shell, and the future depends entirely on the new management's ability to successfully pivot into infrastructure.