Results for the year ending 31st March, 2025
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Pasari Spinning Mills reported essentially flat total income of Rs. 68.88 lakhs for FY25 versus Rs. 68.66 lakhs in FY24. Despite stagnant revenue, net profit grew about 18% to Rs. 42.53 lakhs from Rs. 36.05 lakhs, driven by lower operating expenses, with EPS rising to Rs. 0.31 from Rs. 0.26. Q4 standalone profit dipped to Rs. 9.38 lakhs from Rs. 11.23 lakhs in the year-ago quarter. The auditor issued an unmodified opinion but flagged three Emphasis of Matter items: investment properties not revalued since March 2022, unpaid property tax since FY20 with only a Rs. 15.87 lakh provision, and a Cotton Corporation of India dispute where Rs. 63.90 lakhs has been provided and Rs. 639.22 lakhs sits as a contingent liability. The board also appointed a new secretarial auditor (M/s. Vinay & Ashwini for 5 years), re-appointed the internal auditor, and named CS Unnti as the new Company Secretary.
Marginal revenue with rising profits signals cost-cutting rather than business growth. The huge contingent liability of Rs. 639.22 lakhs and negative reserves position make this a high-risk, small-cap name; the legal dispute outcome and property tax resolution are key things for shareholders to watch.