Pursuant to the Regulation 30 & 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 we wish to inform you that the Board of Directors at their meeting held on ....
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Parle Industries' board, meeting on 20 June 2025, approved audited standalone and consolidated financial results for Q4 and FY ended 31 March 2025. Statutory auditor M/s Ajmera & Ajmera issued a qualified opinion on both standalone and consolidated results due to a disputed share-swap deal worth Rs. 81.54 crores with Welldone Integrated Services (WISPL) and Marvelous Vickyfoods (MVPL), whose shareholders failed to deliver the underlying shares and consideration. The board resolved to terminate the Share Purchase Agreement (already legally noticed on 11 June 2025) and initiate forfeiture of shares allotted to defaulting shareholders. Despite the qualification, operating financials improved sharply: total revenue rose to Rs. 128.99 lakhs (FY24: Rs. 46.11 lakhs), net profit surged to Rs. 38.15 lakhs (FY24: Rs. 2.89 lakhs), and operating cash flow turned positive at Rs. 62.99 lakhs (FY24: negative Rs. 140.50 lakhs).
Shareholders should note the Rs. 81.54 crore investment and corresponding share capital are under legal dispute and may be forfeited, which could materially affect the inflated balance sheet (total assets of Rs. 148.77 crores vs Rs. 21.81 crores a year ago). The qualified audit opinion flags governance and counterparty risks, though core operations (Infrastructure/Real Estate and Paper Waste Recycling) show genuine revenue and profit growth.