Annual Report for the Year 2024-25
MODIRUBBER · price
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Modi Rubber Ltd has filed its 52nd Annual Report for FY 2024-25 along with the AGM notice scheduled for September 30, 2025 via video conferencing. The company reported a sharp drop in standalone net profit to Rs 235.96 Lacs from Rs 2856.14 Lacs in the previous year, with total comprehensive income at Rs 885.38 Lacs (vs Rs 2896.62 Lacs). Income mainly comes from guest house operations, interest and dividends — no manufacturing/production activity. The company continues to implement a long-pending BIFR revival scheme from 2008, with the Modinagar Tyre Factory (MTF) possession matter sub-judice before the Allahabad High Court and one creditor's dues unresolved. No dividend has been recommended. Statutory auditors M/s PNAM & Co LLP issued an unmodified (clean) opinion with no qualifications or adverse remarks on the financial statements.
Investors should note the steep drop in profitability year-on-year, absence of core operations, and ongoing BIFR-related litigation which continue to weigh on the business. No dividend was declared, and only 15 employees remain on rolls, indicating the company is essentially non-operational. The clean audit opinion and going-concern declaration by the board are positive, but the long-pending revival scheme and unresolved asset possession pose ongoing uncertainty.