Outcome of Board Meeting held on 31.05.25
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Palco Metals Ltd's board approved audited standalone and consolidated financial results for Q4 and FY ended 31 March 2025. On a standalone basis, the company reported a loss after tax of Rs 32.66 lakh in FY25 versus a profit of Rs 2.80 lakh in FY24, with revenue flat at Rs 30.43 lakh, hit by finance costs of Rs 20.18 lakh. On a consolidated basis (which includes subsidiary Palco Recycle Industries), revenue from operations jumped ~27% to Rs 24,595.79 lakh (FY24: Rs 19,407.71 lakh), and profit after tax rose ~25% to Rs 629.53 lakh (FY24: Rs 503.35 lakh), with EPS at Rs 15.76. The board also approved a scheme of merger of wholly owned subsidiary Palco Recycle Industries Ltd into Palco Metals, to be filed with NCLT Ahmedabad after withdrawing an earlier Regional Director route application, and appointed a new Secretarial Auditor and Internal Auditor for FY25.
The standalone entity is loss-making, but real value sits in the subsidiary Palco Recycle Industries, where revenue and profits grew ~25-27% YoY. Shareholders should focus on consolidated numbers, which drive the picture. The proposed merger simplifies the group structure but is a related-party transaction between the holding company and its wholly owned subsidiary, exempt from Section 188, and will not change the shareholding pattern or issued capital.