Outcome of Board Meeting
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
MFL India's board approved audited financial results for Q4 and FY ended March 31, 2025, along with updates to several corporate policies (Code of Conduct, Whistle Blower, Related Party Transactions, Archival Policy). The company reported a marginal profit before tax of Rs. 17.70 lakh in FY25, recovering from a Rs. 245.60 lakh loss in FY24. After deferred tax, FY25 ended with a net loss of Rs. 82.71 lakh (vs Rs. 245.60 lakh loss in FY24). Q4 FY25 swung to a profit of Rs. 46.25 lakh from a Rs. 148.78 lakh loss a year earlier. Revenue from operations dipped slightly to Rs. 52.26 crore from Rs. 53.61 crore last year. Total assets grew to Rs. 21.25 crore while borrowings rose to Rs. 17.59 crore (entirely unsecured loans from directors). The auditor issued a qualified opinion, flagging that the company has not provided for retirement benefits (gratuity and leave encashment), overstating profit. A Rs. 21.04 crore income tax dispute for AY 2018-19 remains pending before CIT (Appeals).
The qualified audit opinion and deeply negative other equity (Rs. -38.81 crore vs share capital of Rs. 36.03 crore) remain concern points, even though operating profit recovered year-on-year. Shareholders should watch for retirement benefit provisioning, outcomes of the large pending tax dispute, and any further director borrowing.