Outcome of Board Meeting for the approval of Financial Statement for the F.Y. 2024-25
Awaiting price reaction for this filing.
The Board approved Relstruct Buildcon's audited standalone financial results for the half-year and full year ended March 31, 2025. Revenue from operations for FY25 stood at Rs. 1,840.03 lakhs versus essentially nil in FY24, but the company posted a massive net loss of Rs. 3,411.81 lakhs (EPS of Rs. -23.26) versus a Rs. 6.02 lakh loss last year. Reserves and surplus swung from a positive Rs. 2,575.19 lakhs to a negative Rs. 836.62 lakhs, and total balance sheet size shrank sharply from Rs. 6,925.65 lakhs to Rs. 2,454.64 lakhs. The auditor (SDP M & Co.) issued a qualified opinion, flagging an unpaid DHFL/Piramal loan of about Rs. 38.03 crores for which SARFAESI possession of the Boisar 'Green Park' project has been ordered, unaccounted GST liability due to cancellation of GST registration, and lack of confirmations for debtors/creditors/loans. An emphasis-of-matter note also highlights stalled project development, expired RERA registration, and a small unpaid dividend (Rs. 900) not transferred to IEPF. Trading in the stock on BSE is currently suspended due to penal reasons.
This is a deeply negative filing for shareholders – a qualified audit opinion, huge loss wiping out reserves, and a SARFAESI-driven takeover of a key project indicate serious solvency and going-concern stress. Investors should view this as a high-risk situation with the stock already suspended from trading on BSE.