Due to some technical issues-digital Signature are not showing on the uploaded "Outcome of Board Meeting held on 17th May 2025" and "Audited Financial Results for the quarter and year ended ....
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Meyer Apparel's board met on 17 May 2025 and approved audited results for Q4 and FY ending 31 March 2025. FY25 revenue crashed to Rs. 128.27 lakh from Rs. 454.48 lakh in FY24, a roughly 72% year-on-year drop. The net loss narrowed to Rs. 106.78 lakh (from Rs. 183.48 lakh), but accumulated losses stand at Rs. 6,218 lakh with a deeply negative net worth of Rs. (3,278) lakh. The statutory auditor flagged a material 'going concern' uncertainty, noting current liabilities exceed current assets by Rs. 3,278.80 lakh. The board also appointed a new Independent Director (Ms. Hemlata Gupta), a new Secretarial Auditor (M/s Lalit Singhal & Associates, 5-year term), approved increasing the borrowing limit to Rs. 1 crore, and cleared taking inter-corporate loans from promoters/directors, all subject to shareholder approval. The company separately clarified a technical glitch that had prevented digital signatures from showing on the original uploads.
Negative – the going-concern flag, persistent losses, negative net worth, and collapse in revenue are serious red flags. The need to lean on promoter/director loans underscores weak conventional financing access, posing meaningful fundamental risk for shareholders.