THE BOARD HAS CONSIDERED AND APPROVED THE FINANCIAL RESULTS FOR THE QUARTER AND YAER ENDED MARCH 31, 2025
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The board approved the audited standalone and consolidated results for Q4 and FY ended March 31, 2025. The company reported zero revenue from operations (vs ₹24.22 lakh in FY24), with all ₹173.94 lakh of total income coming from 'other income' (largely write-back of old liabilities). Net profit for FY25 was ₹9.05 lakh versus a loss of ₹59.13 lakh in FY24, but this swing was driven by one-time write-offs, not real business activity. The statutory auditor (Jain Paras Bilala & Co.) issued an Adverse Opinion, flagging 12 serious qualifications including: no manufacturing or sales activity for two years, the company was declared an NPA by Canara Bank in Feb 2023, land was auctioned by the bank, unpaid dividends since FY2013-14 were not transferred to IEPF, no impairment testing done on PPE worth ₹183.19 lakh, no actuarial valuation for gratuity, no ECL provisioning, and inventory was not physically verified. Net worth is barely positive at ~₹84 lakh against total liabilities of ~₹1,126 lakh. Operating cash flow was negative at ₹(75) lakh.
This is a deeply distressed, non-operating company with an adverse audit opinion and explicit going-concern doubt. Shareholders face high risk: there is no real business, the bank has auctioned the land, statutory dues and IEPF obligations are pending, and the auditor could not verify key balances. Investors should treat this stock with extreme caution — it is essentially a shell awaiting revival, and BSE has just approved revocation of its trading suspension, which may bring back liquidity but also volatility.