Pursuant to Regulation 33 read with Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations 2015, the Audited Standalone and ....
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Nirmitee Robotics India filed audited FY25 results on May 27, 2025. Standalone revenue from operations rose to Rs. 892.49 lakhs from Rs. 499.00 lakhs in FY24 (about 79% growth), and standalone profit after tax grew to Rs. 60.22 lakhs from Rs. 49.28 lakhs. On a consolidated basis, the company swung from a loss of Rs. 96.92 lakhs in FY24 to a profit of Rs. 60.22 lakhs in FY25. The auditor (BPSD & Associates) issued a Qualified Opinion, flagging the liquidation of its wholly-owned Dubai subsidiary Nirmitee Robotics AC Maintenance LLC, which led to write-offs of a Rs. 90.99 lakh loan, a Rs. 70.66 lakh equity investment, and Rs. 62.99 lakh of advances. The auditor also included an Emphasis of Matter paragraph. Notably, the company separately filed a declaration under Reg 33(3)(d) claiming the auditor's report is 'unmodified and without any qualification,' which directly contradicts the qualified opinion actually issued.
Despite strong top-line growth and a return to consolidated profitability, the qualified audit opinion and the contradictory 'unmodified' declaration by the company are serious governance red flags that may concern investors and could put the stock under scrutiny. The Dubai subsidiary write-offs of over Rs. 2.2 crore signal execution missteps in the international expansion.