Out come of Board Meeting and Announcement of Audited Financial Result Standalone and Consolidated for the year ended March 31 2025
Awaiting price reaction for this filing.
Prabhat Technologies, which has been under Corporate Insolvency Resolution Process (CIRP) since October 2019 with NCLT Mumbai, announced its FY25 audited results signed by the Resolution Professional. On a standalone basis, the company posted total income of Rs 192.08 lakhs against Rs 249.16 lakhs in expenses, resulting in a net loss of Rs 57.08 lakhs and EPS of (Rs 0.04). On a consolidated basis (including Prabhat Global Industries and Prabhat Telecom Hongkong), total income was Rs 232.57 lakhs with a net loss of Rs 59.55 lakhs and EPS of (Rs 0.51). Net worth stood at Rs 289.02 lakhs (standalone) and Rs 105.85 lakhs (consolidated). The statutory auditor issued a Qualified Opinion on both sets of results — repetitive from prior years — flagging that the company had recognized Non-Sustainable Debt as part of Reserves in FY20 based on a CoC resolution plan approved by 98.15% of creditors, which is still subject to NCLT approval. An Emphasis of Matter was also added regarding the ongoing CIRP. Operating cash flow remained negative at Rs (88.14) lakhs standalone and Rs (78.18) lakhs consolidated. The board also ratified related party transactions for FY24-25 and approved them for FY25-26.
This filing highlights severe and persistent financial distress. The company has been in insolvency proceedings for over 5 years with no final NCLT resolution yet, losses are continuing, net worth is thin, and auditors have flagged a going concern uncertainty with a repetitive qualified opinion. Shareholders should view this as a high-risk situation — recovery depends almost entirely on NCLT approval of the creditor-approved resolution plan and revival of operations.