Annual Report of Company for FYE March 25.
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Awaiting price reaction for this filing.
Mayur Leather Products submitted its 40th Annual Report for FY ending March 2025, with the AGM scheduled for September 27, 2025 in Jaipur. Total income jumped sharply from Rs. 53.37 Lakh to Rs. 173.94 Lakh on a standalone basis, and the company swung to a net profit of Rs. 9.05 Lakh from a loss of Rs. 59.13 Lakh in the previous year. Consolidated net profit stood at Rs. 2.98 Lakh versus a prior-year loss of Rs. 87.19 Lakh. The Board declared no dividend due to prior losses. Importantly, BSE revoked its March 2024 compulsory delisting order in August 2024 and trading has resumed on the platform. However, the auditor flagged multiple serious concerns: the company has had no manufacturing or trading activity (only sale of old assets), its factory land was auctioned off by Canara Bank which had declared the firm NPA, income tax returns have not been filed since FY 2022-23, unclaimed dividends for FY 2013-16 were not transferred to IEPF, and there is significant doubt about the company's ability to continue as a going concern.
Despite a headline return to profit and the positive of trading resuming after the delisting threat was lifted, shareholders should be very cautious — the auditor has flagged a going concern uncertainty, the company has no active business operations, factory assets were lost to a bank auction, and there are multiple unresolved compliance lapses.