Please find the attached Annexure for the Financial Results for the Quarter and Financial Year ended on March 31, 2025.
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Awaiting price reaction for this filing.
V.R. Woodart Limited (BSE: 523888) reported audited results for Q4 FY25 and FY25 showing virtually no revenue from operations and a net loss of Rs. 6.77 lacs for the quarter and Rs. 13.12 lacs for the full year (wider than the Rs. 9.13 lacs loss in FY24). The company's total equity is deeply negative at Rs. (212.49) lacs against borrowings of Rs. 212 lacs, and cash and bank balances are just Rs. 0.16 lacs. The statutory auditor (M/s Thakur Vaidyanath Aiyar & Co.) issued an unmodified opinion but included an Emphasis of Matter flagging that the net worth has been completely eroded and operations have been limited, with accounts prepared on a going concern basis only because directors and another party are providing interest-free unsecured loans. The CFO separately declared an unmodified opinion. Net cash used in operating activities was Rs. 13.24 lacs for FY25. The filing also notes a major change in control: existing promoters sold 24.12% in February 2025, a preferential issue of equity shares and warrants has been approved, and acquirers (Minal Patil and Maddukuri Mounica) have triggered an open offer and will take over promoter status.
This is a deeply distressed, near-dormant shell company — shareholders face a going-concern risk, fully eroded net worth, minimal cash, and ongoing losses, with no real operating revenue. Near-term upside, if any, is tied entirely to the takeover by new promoters and the proposed preferential issue/open offer rather than to business performance.