Outcome of Board Meeting held on May 29, 2025
Awaiting price reaction for this filing.
The Board approved audited financial results for Q4 and FY ended March 31, 2025, with the statutory auditor issuing an unmodified opinion. The company reported a net profit of Rs. 142.44 lakhs for FY25, swinging from a loss of Rs. 49.30 lakhs in FY24, mainly driven by a one-time writeback of liabilities of Rs. 233.84 lakhs following its exit from the Corporate Insolvency Resolution Process (CIRP) in June 2024. Q4 FY25 standalone showed a loss of Rs. 49.47 lakhs. The Board also appointed M/s Jha Gunjan & Associates as Internal Auditor for FY26 and M/s Avinash K & Co as Secretarial Auditor for five years. The company has not yet commenced business operations and is scouting for new opportunities.
The headline FY25 profit turnaround is largely driven by a one-time accounting writeback post-CIRP exit, not core operations, so it may not reflect sustainable earnings. With no active business, negative operating cash flow of Rs. 101.03 lakhs, and a new share structure dominated by the resolution applicant, shareholders should watch for signs of operational restart and any future fundraising.