Results - Financial Results for Mar 31, 2025
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Mitshi India Ltd (formerly Dera Paints & Chemical Ltd), a small agri-products trading company, reported audited FY25 results. Total income for the year stood at ₹2,023.69 lacs against total expenditure of ₹2,008.49 lacs, yielding a profit before tax of ₹15.20 lacs. After exceptional items of ₹4 lacs and taxes, the full-year net profit came in at just ₹3.56 lacs (EPS ₹0.04). This follows a 9-month loss of ₹86.86 lacs, indicating a sharp Q4 turnaround. The auditor (SDPM & Co.) issued an unmodified opinion but flagged an Emphasis of Matter on unconfirmed trade receivables, trade payables, and unsecured loans. Operating cash flow was negative at ₹13.31 lacs (vs. positive ₹5.57 lacs in FY24), and the company has accumulated losses of ₹607.89 lacs sitting in negative reserves, exceeding its ₹880 lac share capital base.
Negative reserves, negative operating cash flow, and dependence on borrowings (₹15.22 lac inflow from financing) to sustain operations point to genuine going-concern risk for this micro-cap. Retail investors should treat this as a high-risk, thinly-traded stock with weak financial health despite the small FY25 profit.