Outcome of Board Meeting
Awaiting price reaction for this filing.
The Board of Sharanam Infraproject and Trading, which met on 27th May 2025, approved the audited financial results for Q4 and the full year ended 31st March 2025. The company reported a sharp jump in revenue from operations to ₹3,740.11 lakh in FY25, up from just ₹176.07 lakh in FY24, while net profit surged to ₹508.34 lakh from ₹2.58 lakh, translating to EPS of ₹0.424. Paid-up equity share capital rose from ₹1,200.02 lakh to ₹5,940.33 lakh, indicating a sizeable share issuance during the year. The board also appointed M/s Jay Pandya & Associates as the Secretarial Auditor for FY25 and accepted the resignation of Ms Pooja Haribhai Gadhavi as Company Secretary and Compliance Officer. Importantly, the statutory auditor A.K. Ostwal & Co. issued a Disclaimer of Opinion on the FY25 statements, citing missing books, unconfirmed trade receivables/payables of ₹4,325.60 lakh in loans to suppliers, unverifiable bank transactions, unmaintained inventory records, and unfilled GST returns. Total assets tripled to ₹8,059.76 lakh and net worth expanded to ₹6,304.63 lakh, but the auditor could not obtain sufficient evidence to form an opinion on these numbers.
While the headline numbers show explosive growth, the auditor's disclaimer means the financial statements are not independently verified, which is a serious red flag for shareholders. The reported revenue, profit, and asset figures should be treated with significant caution until the company's books and confirmations are properly reconciled.