Outcome of Adjourned Board Meeting
Awaiting price reaction for this filing.
The Board approved audited standalone and consolidated financial results for Q4 and full year ended March 31, 2025, along with the annual accounts for FY24-25. Statutory auditor Prabhat & Co. issued an un-modified (unqualified) opinion on both sets of results. The Board also appointed Ms. Ranjana Kumari as an Additional Non-Executive Independent Director for 5 years and Mr. Santosh Kumar Tibrewalla as Secretarial Auditor for FY26 to FY30. Notably, the company was under insolvency proceedings, manufacturing operations were not running during the year, and revenue came only from sale of existing stock. On the numbers (consolidated): net sales rose sharply to around ₹925.3 lakh (from just ₹6.1 lakh last year), but loss before tax widened to roughly ₹(515) lakh versus ₹(227) lakh earlier. Cash used in operations deteriorated sharply to ₹(981) lakh, and total equity remains negative at around ₹(673) lakh on a standalone basis.
Despite a jump in top-line, the company remains in deep financial stress — widening losses, deeply negative operating cash flows, and negative net worth suggest serious solvency concerns for shareholders. The unqualified audit opinion is positive on governance optics, but the underlying business is not operational and the stock remains a high-risk, small-cap situation.