Outcome of Board Meeting for the quarter and year ended March 31, 2025
Awaiting price reaction for this filing.
Tulsi Extrusions' board approved audited standalone financial results for Q4 and FY25 on August 7, 2025, about two months after the May 30, 2025 deadline. The company attributed the delay to its ongoing NCLT proceedings, noting it was under Corporate Insolvency Resolution and liquidation from Dec 2018 to Dec 2021, and a petition seeking listing of fresh shares and extinguishment of existing shares remains pending (next hearing Aug 26, 2025). Full-year revenue from operations fell to ₹3,780.86 lakhs from ₹5,518.50 lakhs in FY24, a decline of roughly 31%, while loss before tax widened to ₹780.84 lakhs from ₹345.74 lakhs. Q4 FY25 alone showed a turnaround with profit before tax of ₹249.75 lakhs vs ₹20.67 lakhs in Q4 FY24, helped by lower material costs. The auditor (KRA & Co.) issued an unmodified opinion but included an Emphasis of Matter on a prior period depreciation error of ₹3.11 crores in FY24, corrected through opening retained earnings.
Shareholders face a mixed picture — full-year losses have more than doubled and revenue has contracted sharply, but Q4 returned to profit. The stock remains effectively suspended from normal trading until NCLT orders the listing of fresh shares and extinguishment of old ones, leaving shareholding structure unresolved. Persistent negative operating cash flows and rising borrowings (₹2,889 lakhs total) are red flags, though the company has managed to keep cash positive at ₹31.26 lakhs via fresh borrowings.