Outcome of Board Meeting held on 30th May 2025.
Awaiting price reaction for this filing.
The Board of Directors approved the audited financial results for Q4 and full year ended March 31, 2025. For FY25, the company reported total income of ₹366.58 lakhs versus ₹282.97 lakhs in FY24, but posted a net loss of ₹(167.89) lakhs compared to a profit of ₹144.71 lakhs in the prior year. Revenue from operations in Q4 FY25 was ₹111.19 lakhs versus ₹64.68 lakhs in Q4 FY24. The company also appointed M/s. LANS & Co. as Internal Auditor for FY 2025-26. The statutory auditor issued a qualified opinion due to long-pending trade payables of ₹225.08 lakhs with expired limitation period — a repetitive qualification over the last four years. The company's spinning division has been discontinued since November 2023 due to continued cash losses, and accumulated losses stand at ₹2,614.81 lakhs with negative net worth of ₹(990.57) lakhs.
Shareholders should note the company's weak financial health — negative net worth, accumulated losses, and a going concern note in the financials. The auditor's repetitive qualified opinion and discontinued spinning division signal ongoing operational stress, though the FY25 loss narrowed versus prior years' continuing operations.