Outcome of Board meeting
Awaiting price reaction for this filing.
The board approved audited standalone financial results for Q4 and FY ended March 31, 2025. Revenue from operations rose to Rs. 1.40 crore in FY25 from nil in FY24, but other income fell to Rs. 32.20 crore from Rs. 38.48 crore, pulling total income down to Rs. 33.60 crore (vs Rs. 38.48 crore). Total expenses jumped sharply to Rs. 32.83 crore from Rs. 12.61 crore, driven mainly by higher other expenses and depreciation. Profit after tax collapsed to just Rs. 0.77 crore (EPS Rs. 0.10) from Rs. 25.87 crore (EPS Rs. 3.31) a year ago, a ~97% drop. The statutory auditor issued an unmodified (clean) opinion, and the company disclosed related party transactions for FY25 and appointed M/s. R Jangir & Co. as internal auditor for three years (FY26-FY28). Outstanding qualified borrowings are nil.
The clean audit opinion is a positive, but the dramatic slump in profits, ongoing negative other equity (accumulated losses of ~Rs. 63 crore), and weak core operations suggest continued earnings pressure. The nil debt position and asset sales (Rs. 109.7 crore from PPE disposal) have supported liquidity, but shareholders should watch for sustained improvement in operating profitability before turning constructive.