Outcome of the Rescheduled Board Meeting held on 30th May, 2025
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The board approved audited financial results for the half year and full year ended 31 March 2025, along with updates to materiality, insider trading, and related party transaction policies. Total revenue for FY25 nearly doubled to Rs 37.44 lakhs (from Rs 18.79 lakhs in FY24), driven mainly by other income of Rs 22.44 lakhs, while revenue from operations stayed flat at Rs 15 lakhs. Profit after tax slipped to Rs 0.83 lakhs (from Rs 1.18 lakhs), and the company continues to carry negative reserves of Rs 458.27 lakhs and a negative operating cash flow of Rs 29.57 lakhs. Statutory auditor Beriwal & Associates issued an unmodified (clean) opinion. The board also appointed a new secretarial auditor and internal auditor, and noted the resignation of a non-executive non-independent director.
Revenue growth is encouraging but profitability remains wafer-thin and the company is still loss-making at the reserves level with ongoing operating cash burn, which limits near-term upside for shareholders. The clean audit opinion and reduced borrowings (from Rs 653.74 lakhs to Rs 237.68 lakhs) are mild positives, while the director exit adds a small governance watch point.