Pursuant to Regulations 30 and 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 attached herewith the audited financial results for the financial year ending ....
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Awaiting price reaction for this filing.
Palm Jewels Ltd, a small Ahmedabad-based gold jewellery maker, filed its audited FY25 results. Total income for the year rose to Rs 18,978 lakhs from Rs 16,063 lakhs (up ~18%), driven by higher revenue from operations. However, profit before tax collapsed to Rs 15.92 lakhs from Rs 71.14 lakhs (down ~78%), and net profit after tax fell to Rs 12.92 lakhs from Rs 54.29 lakhs (down ~76%). Q4 was particularly weak, with net profit of Rs 9.34 lakhs versus Rs 34.67 lakhs a year ago. The auditor (Bharat H. Shah & Co.) gave an unmodified/unqualified opinion. The company also took on Rs 355.36 lakhs in new non-current borrowings during the year, which were not present in FY24.
Sharp drop in profitability despite revenue growth suggests significant margin pressure, likely from rising purchase costs or inventory write-downs (inventories swelled from Rs 1,416 to Rs 1,680 lakhs). Negative operating cash flow of Rs 214 lakhs (vs Rs 277 lakhs inflow last year) and fresh borrowings point to working capital strain. Small-cap, thinly traded stock — likely to see negative price reaction on weak earnings quality.