Results for the Financial Year Ended March 31, 2025
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The Board approved audited financial results for the year ended March 31, 2025, along with cash flow statement and balance sheet. Profit before tax stood at about Rs. 261.50 lakhs, up roughly 45% from Rs. 180.05 lakhs in FY24, with profit after tax estimated around Rs. 196 lakhs (up ~36%). Revenue grew modestly from FY24 levels. However, cash flow from operations turned sharply negative at around Rs. (854) lakhs versus Rs. (39) lakhs last year, largely due to a steep build-up in inventories and trade receivables. The auditor (DSMR & Co.) issued an unmodified (clean) opinion. The company also raised fresh equity via an SME IPO during the year, lifting equity capital and reserves substantially, and appointed new Secretarial and Internal Auditors for FY26 and FY27.
Profitability improved meaningfully on the back of IPO-funded growth, but the deep negative operating cash flow is a red flag — the company is funding working capital and receivables through fresh equity rather than operations. Shareholders should watch whether cash generation catches up with the rising working capital needs; the clean audit opinion and capital infusion are positives.