Updating the Outcome of the Board Meeting -held on 29th May, 2025
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Pasari Spinning Mills' board approved audited financial results for Q4 and full year ended 31st March 2025. FY25 total income stood at Rs. 68.66 lakhs (vs Rs. 68.88 lakhs in FY24), while net profit came in at Rs. 36.05 lakhs (vs Rs. 42.53 lakhs in FY24), a decline of about 15%. EPS for FY25 was Rs. 0.26 vs Rs. 0.31 in FY24. Operating cash flow was positive at Rs. 4,390.96 lakhs. The statutory auditor (Rao and Emmar) issued an unmodified opinion but flagged three Emphasis of Matter points: non-revaluation of investment properties (last done March 2022), unpaid property tax since FY 2019-20 with only a Rs. 15.87 lakh provision, and a legal dispute with Cotton Corporation of India where Rs. 63.90 lakhs is provisioned and Rs. 639.22 lakhs is disclosed as contingent liability. The board also appointed M/s Vinay & Ashwini as Secretarial Auditor for 5 years, CS Unnti as new Company Secretary & Compliance Officer, and re-appointed Mr. Venkatapathi as Internal Auditor.
Shareholders should note the falling profits and the sizable contingent liability from the Cotton Corporation dispute that could materially affect future earnings if the ruling goes against the company. The unmodified audit opinion is positive, but the Emphasis of Matter items, especially the long-standing unpaid property tax and the litigation overhang, warrant attention.