Audited Financial Results for the quarter and financial year ended March 31, 2025
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National Standard (India) Ltd, part of the Lodha Group, reported audited results for Q4 and FY25. Revenue from operations grew modestly to Rs 22.33 crore in FY25 from Rs 21.37 crore in FY24, up about 4.5%. However, profit after tax fell to Rs 13.20 crore from Rs 14.74 crore, down roughly 10%, and EPS declined to Rs 6.60 from Rs 7.37. Other equity strengthened to Rs 252.34 crore, and total assets stood at Rs 277.15 crore. Statutory auditor MSKA & Associates issued an unmodified (clean) opinion. The Board also approved the appointment of M/s. Shravan A Gupta & Associates as the new Secretarial Auditor for five years from FY26. The proposed merger of the company with Macrotech Developers (Lodha) under Sections 230-232 of the Companies Act is pending approvals, and the stock has already voluntarily delisted from the Calcutta Stock Exchange effective February 1, 2025.
For shareholders, this is a mixed bag: steady top-line but a double-digit fall in earnings and EPS year-on-year. The bigger story is the ongoing scheme of merger into Lodha (Macrotech Developers), which, if approved, could significantly reshape the stock's status and liquidity on BSE.