With reference to the subject cited, it is hereby informed to you that the meeting of the Board of Directors of the Company has been held today i.e. on Saturday, 17th May, 2025 through ....
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Meyer Apparel reported audited FY25 results with total revenue of Rs. 128.27 lakhs, a sharp drop of about 72% from Rs. 454.48 lakhs in FY24. The company posted a net loss of Rs. 106.78 lakhs for the year (lower than Rs. 183.02 lakh loss last year) and Rs. 22.96 lakhs for Q4 FY25. Accumulated losses stand at Rs. 6,218.07 lakhs, resulting in a deeply negative net worth of Rs. 3,278.40 lakhs, with current liabilities far exceeding current assets. The auditor flagged a 'Material Uncertainty Related to Going Concern' though the audit opinion itself remains unmodified. The Board approved a Rs. 1 crore borrowing limit increase and availing loans from promoters/directors, and appointed a new Independent Director.
This is a deeply concerning set of results for shareholders: revenue has collapsed, the company is loss-making, net worth is fully eroded, and the auditor has formally flagged going concern doubt. The reliance on promoter/director loans to fund operations suggests limited external financing options. The stock is likely to remain under pressure, and investors should weigh the risk of further dilution or restructuring.