THE OUTCOME OF THE BOARD MEETING IS TO CONSIDER AND APPROVE THE AUDITED FINANCIAL RESULTS FOR THE QUARTER AND FINANCIAL YEAR ENDED ON MARCH 31, 2025, AND TAKE NOTE OF THE AUDITOR''S REPORT THEREON.
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
The board of Mayur Leather Products approved its audited standalone and consolidated financial results for Q4 and FY25 on May 30, 2025. The company reported zero revenue from operations for the full year (down from Rs. 24.22 lakh last year), with total income of Rs. 173.94 lakh coming entirely from other income (largely write-offs and asset sales). Net profit stood at Rs. 9.05 lakh versus a loss of Rs. 59.13 lakh in FY24, but this is largely driven by Rs. 180.10 lakh of liabilities being written off. The statutory auditor issued an Adverse Opinion on the standalone results with 12 separate audit qualifications. Key issues include: no manufacturing or trading activity, the company being declared NPA by Canara Bank since Feb 2023 with its land auctioned off, unresolved bank statements for multiple accounts, non-transfer of unpaid dividends to IEPF, no impairment testing on PPE worth Rs. 183.19 lakh, no actuarial valuation of employee benefits, and the company not filing income tax returns since FY23. Cash flow from operations was negative at Rs. 75.02 lakh and net worth is only Rs. 84.33 lakh against borrowings of Rs. 425.40 lakh.
This is an extremely negative filing for shareholders. The Adverse Audit Opinion is the most serious type and signals deep financial dysfunction — the company has essentially ceased operations, its key land asset was auctioned by the lender, and the auditor explicitly flagged going concern uncertainty. While trading suspension has been revoked by BSE, the stock is extremely high risk with no real operating business, eroded equity, and unresolved lender/regulatory issues. Retail investors should treat this as a strong warning signal and likely avoid exposure.