Outcome of Board Meeting
Awaiting price reaction for this filing.
The Board of Quasar India Ltd, at its meeting on 29th May 2025, approved the audited financial results for Q4 and the full year ended 31st March 2025. Full-year revenue rose to Rs. 4,213.35 lakhs from Rs. 3,645.74 lakhs a year ago, but net profit collapsed sharply to just Rs. 2.45 lakhs from Rs. 165.85 lakhs due to much higher purchase costs. The standalone Q4 result swung to a loss of Rs. -302.98 lakhs versus a small loss of Rs. -4.31 lakhs in Q4 FY24. The Board also appointed M/s. Jay Pandya & Associates as Secretarial Auditor for FY25 and M/s. S P Patel & Co. as Internal Auditor for FY26, and confirmed an unmodified statutory audit opinion. No dividend was recommended for FY25; the company raised Rs. 4,815.55 lakhs via a rights issue during the year, lifting total equity to Rs. 5,648.33 lakhs.
Sharp drop in profitability and a steep quarterly loss are negative for shareholders, though a cleaner balance sheet from the large rights issue and an unmodified audit opinion provide some comfort. Expect short-term pressure on the stock given the weak earnings, with attention on whether the rights-issue funds can revive margins.