OUTCOME OF BOARD MEETING
Awaiting price reaction for this filing.
Madhur Industries Ltd's Board, at its meeting on May 30, 2025, approved the standalone audited financial results for Q4 and FY ended March 31, 2025. Statutory auditors M/s J.U. Shah & Co issued an unmodified (clean) opinion on the results. The company also appointed M/s Harish P. Jain & Associates as Secretarial Auditors for FY 2025-26. Notably, Revenue from Operations was zero for both FY25 and FY24 — the company's total income of Rs 612.43 lakhs for FY25 came entirely from 'Other Income,' mainly the transfer of leasehold rights (Rs 537.63 lakhs). The company reported a loss before tax of Rs 35.13 lakhs and a net loss of Rs 86.32 lakhs for FY25, compared to Rs 32.00 lakhs loss in FY24. EPS stood at Rs -0.21 for FY25. Cash and cash equivalents improved to Rs 142.53 lakhs, driven by the leasehold rights transfer.
The zero operating revenue and widening losses are serious red flags — the company's income depends on one-time transfers of leasehold rights rather than its core food products business. Despite the clean auditor opinion, shareholders should note the absence of operational revenue and declining total assets (from Rs 765.84 lakhs to Rs 473.01 lakhs). The newly appointed Secretarial Auditor for FY26 may bring fresh scrutiny on compliance and going concern aspects.