The Audited Financial Results set out in compliance with Indian Accounting Standards (Ind - AS) for the Half Year and Year ended March 31, 2025 together with Statement of Assets & Liabilities ....
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Board of Directors, at its May 30, 2025 meeting, approved the audited standalone financial results for the half-year and full year ended March 31, 2025. Total revenue surged to roughly Rs. 315.66 lakh from Rs. 50.25 lakh in FY24, a massive jump driven mainly by other income rather than core operations. The company swung to a profit after tax of about Rs. 45.25 lakh compared with a loss in FY24. The statutory auditor (DGMS & Co.) issued an 'unmodified' opinion on the results, but flagged the cash-in-hand balance of Rs. 113.43 lakh as a Key Audit Matter, stating they could not verify the physical cash or see supporting documents. The company recently rebranded from Vaksons Automobiles to Naksh Precious Metals, marking a business pivot into precious metals.
The revenue and profit turnaround looks impressive on paper, but shareholders should treat it with caution because nearly the entire revenue spike is 'other income' and the auditor could not substantiate the unusually large Rs. 113.43 lakh cash pile — a serious governance red flag that could weigh on the stock and prompt further scrutiny.