Outcome of Board Meeting held on 28th May, 2025

Going ConcernQualified OpinionRevenue DeclineEbitda Margin CompressionExceptional ItemContingent Liabilities IncreasedResults View source PDF Explain this filing

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

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+1.5%Reaction day

₹11.42

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Nifty Microcap 250market · in no size index; the smallest one is used+0.4%+1.1% vs market

Civil Construction peers, median of 84sector+0.2%+1.3% vs sector

On the reaction day the stock moved 1.1 pts more than Nifty Microcap 250 and 1.3 pts more than its Civil Construction peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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Reaction day

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+17.3-1.4+18.8-7.4+24.8

UpDownMarket · Nifty Microcap 250Sector · Civil Construction peers, median of 84Pending

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AI summary

PBA Infrastructure's Board approved audited results for Q4 and FY25 (ended March 31, 2025), along with re-appointments of JC & Associates as Secretarial Auditor and Abhishek Bansal & Co as Internal Auditor for FY26. Revenue from operations fell sharply to Rs. 36.45 crore from Rs. 60.49 crore last year (~40% decline). Net profit stood at Rs. 2.22 crore (vs Rs. 2.45 crore), but profit before exceptional items collapsed to Rs. 1.37 crore from Rs. 13.23 crore after booking Rs. 11.59 crore in exceptional items. The statutory auditor (N.K. Mittal & Associates) issued a Qualified Opinion, flagging that Rs. 315.15 crore in loans are overdue to consortium bankers under SARFESAI, the company is an NPA, total liabilities exceed current assets, and equity is deeply negative at Rs. (114.76) crore. The auditor also noted material uncertainty about the company's ability to continue as a going concern, unreconciled loan accounts since 2018, incomplete fixed asset register, and Rs. 164 crore in disputed/uncertain receivables.

Likely market impact

This is a deeply negative filing — the company is technically insolvent (negative net worth), heavily in debt default, and facing a qualified audit with going-concern doubts. Shareholders face significant risk of dilution or restructuring, and the stock price is likely to react negatively given the severity of the disclosures.