Outcome of Board Meeting
Awaiting price reaction for this filing.
The board approved audited financial results for the quarter and year ended March 31, 2025, along with an unmodified audit opinion from M.M Reddy & Co. The company reported essentially zero revenue from operations and a total income of just ₹0.76 lakh for FY25, with total expenses of ₹493.03 lakh leading to an operating loss of ₹492.28 lakh. A standalone profit of ₹93.47 lakh was reported only because of an exceptional one-time gain of ₹585.75 lakh from the sale of land. The Q4 standalone result was a loss of ₹16.51 lakh. The board also appointed L Sivakumar & Associates as internal auditors and Nishant Darak & Associates as secretarial auditors for a five-year term (FY26–FY30), subject to shareholder approval.
Operationally, the company is deeply loss-making with no real revenue, negative equity of ₹1,049.21 lakh (vs positive ₹1,451.15 lakh last year), negative operating cash flow, and only ₹11.86 lakh in cash. Profitability is entirely propped up by a one-time land sale, not core business, making this a serious going-concern red flag for shareholders despite the clean audit opinion.