outcome of Board Meeting
Awaiting price reaction for this filing.
TMT India Ltd's board, at its meeting on 30 May 2025, approved the audited financial results for the quarter and full year ended 31 March 2025, with auditor M/s Sathish Ramdeni & Co issuing an unmodified opinion. The company reported a widened net loss of ₹45.98 lakhs for FY25 compared to a loss of ₹34.31 lakhs in FY24, with virtually zero revenue from operations during the year. Cash and cash equivalents fell to just ₹1.25 lakhs, while borrowings rose by ₹29 lakhs to fund operations. The board also accepted the immediate resignation of Mr. Venu Krishna Kishore Babu Pasam as Whole-time Director, citing pre-occupation and personal commitments.
Shareholders should note the deteriorating financials — a deeper loss, near-zero revenue, and a very thin cash balance largely sustained by fresh borrowings. The exit of the Whole-time Director (a Key Managerial Personnel) adds to governance uncertainty, though the resignation appears to be for personal reasons rather than any dispute.