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Awaiting price reaction for this filing.
The Board of Omnipotent Industries Ltd met on May 15, 2025 and approved audited financial results for FY25, accepted the resignation of Independent Director Mr. Vikas Jain due to other professional commitments, and appointed Mr. Navneet Khare and Mr. Manoj Batham as new Non-Executive Independent Directors for a 5-year term. The Board also approved shifting of the registered office within Mumbai. Audited financials show revenue fell sharply to Rs. 2,013.48 lakhs (from Rs. 3,360.21 lakhs in FY24) and the company reported a net loss of Rs. 424.60 lakhs versus a small profit in FY24. The auditor highlighted a material going concern uncertainty as the company sold off all its fixed assets and inventory, with the Kandla plant not in operation.
Shareholders should note serious red flags: the company has effectively wound down operations (sold all fixed assets, plant shut), promoters diluted their stake by selling shares in the open market, and the auditor flagged a going concern doubt. New directors replacing one resignation is routine but the underlying business condition is highly concerning for stock valuation.