Outcome of board meeting
Awaiting price reaction for this filing.
The board approved the standalone audited financial results for Q4 and FY ended 31 March 2025. Revenue from operations jumped sharply to Rs 1,370 lakhs in FY25 from Rs 584 lakhs in FY24 (more than doubled). However, the company reported a net loss of Rs 84.81 lakhs for FY25, widening from Rs 13.70 lakhs loss in FY24. Net worth has turned deeply negative at Rs -138.78 lakhs (vs Rs -53.97 lakhs a year earlier), with other equity at Rs -493.78 lakhs. The statutory auditor (Gorantla & Co) issued an unmodified opinion but flagged a material uncertainty related to going concern, noting that accumulated losses have fully eroded net worth. The company also appointed Ms. Neha Pamnani as Secretarial Auditor for FY24-25 and confirmed it does not qualify as a Large Corporate.
Despite strong revenue growth, widening losses and a fully eroded net worth raise serious viability concerns. The auditor's going concern warning is a significant red flag for shareholders, indicating the company's ability to continue operations depends on uncertain future cash flows from a software project currently under development.