Outcome of meeting of Board of Directors of the Company has been attached herewith.
Awaiting price reaction for this filing.
PAE Limited's Board approved the audited standalone financial results for Q4 and FY ended March 31, 2025. The company was under Corporate Insolvency Resolution Process (CIRP) from April 22 to November 27, 2024, with NCLT approving the resolution plan submitted by Mr. Jatinbhai Ramanbhai Patel. A new Board was appointed on February 18, 2025, and management was formally handed over on May 2, 2025. Total revenue surged dramatically to Rs. 61,422.24 lakhs from Rs. 8.36 lakhs in the previous year, while the company swung to a net profit of Rs. 1,348.14 lakhs from a loss of Rs. 68.21 lakhs, yielding EPS of Rs. 12.94 vs Rs. (0.65). The Board also resolved to treat Rs. 4.85 crore of unsecured loans as quasi-equity for later conversion, and adopted multiple governance policies. However, operating cash flow remained negative at Rs. (208.10) lakhs and the auditor issued a Disclaimer of Opinion citing non-availability of confirmations and reconciliations for multiple balance sheet items.
While the headline numbers show a dramatic turnaround post-CIRP, the auditor's disclaimer of opinion and persistent negative operating cash flow raise red flags about the quality and sustainability of earnings. Shareholders should treat the surge cautiously, as a Statement of Impact of Audit Qualifications has been flagged, and other equity remains deeply negative at Rs. (2,519.99) lakhs.