Outcome of board meeting
Awaiting price reaction for this filing.
The board met on 29th May 2025 and approved audited financial results for Q4 and FY ended 31st March 2025. The auditor (SNMR & Associates) issued a clean, un-modified opinion. For the full year, net sales grew to ₹100.81 lakhs from ₹82.97 lakhs (up about 21%), but the company swung to a much deeper net loss of ₹91.08 lakhs versus ₹14.72 lakhs last year, driven mainly by a sharp jump in other expenses to ₹110.64 lakhs (from ₹26.01 lakhs). Other equity turned negative at ₹(123.50) lakhs and other current liabilities rose sharply to ₹55.81 lakhs from ₹6.34 lakhs. The auditor flagged a change in shareholders and management during the year as a key audit matter, but concluded the going concern assumption still holds as new management evaluates new business proposals.
Despite higher sales, sharply rising costs led to a steeply wider loss, eroded reserves (now negative), and continued negative operating cash flow, which are negative signals for shareholders. The clean audit opinion and stated going concern status provide some comfort, but the quality of earnings is weak and the stock remains a high-risk, small-cap name.