North Eastern Carrying Corporation Limited has informed the Exchange regarding Board meeting held on May 28, 2025.
NECCLTD · price
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On the reaction day the stock moved 2.8 pts less than Nifty Microcap 250 and 2.6 pts less than its Logistics Solution Provider peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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The Board approved audited financial results for Q4 and FY25 on May 28, 2025. Revenue from operations for FY25 stood at Rs 328.72 crore, marginally down from Rs 335.12 crore in FY24, while net profit rose about 28% to Rs 10.25 crore from Rs 8.02 crore, pushing EPS to Rs 1.03 (from Rs 0.84). For Q4 alone, revenue grew to Rs 88.10 crore but net profit slipped to Rs 1.76 crore from Rs 1.94 crore. The statutory auditor issued a qualified opinion, flagging three repetitive issues: no provision for doubtful debts on trade receivables of Rs 124.71 crore, non-recognition of right-to-use assets for leased property, and pending confirmations of debit/credit balances. Operating cash flow was sharply negative at Rs 21.24 crore, with cash drain continuing from the prior year.
Profit growth is a positive, but the qualified audit opinion, negative operating cash flow, and large unprovided trade receivables are red flags that may pressure the stock and dent investor confidence, especially as the audit qualifications are repetitive and not yet quantified by management.