Submission of Audited Financial Results along with Auditors report.
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Pharmaids Pharmaceuticals, a CRAMS (Contract Research and Manufacturing Services) company, submitted its audited results with an unmodified (clean) opinion from statutory auditor M/s PPKG & Co. On a consolidated basis, revenue from operations grew about 29% to Rs. 1,944.74 lacs from Rs. 1,511.21 lacs, but the net loss widened to Rs. (1,350.51) lacs from Rs. (1,184.31) lacs, with EPS at Rs. (3.05). On a standalone basis, revenue surged from Rs. 2.78 lacs to Rs. 234.09 lacs, but the loss also expanded to Rs. (727.92) lacs versus Rs. (494.98) lacs earlier. Operating cash flow was sharply negative at Rs. (772.43) lacs standalone and Rs. (1,399.12) lacs consolidated. Total standalone borrowings tripled to Rs. 3,940 lacs while equity declined, pushing the debt-to-equity ratio sharply higher and inventories spiked from Rs. 22.93 to Rs. 976.52 lacs.
Despite revenue growth, widening losses, deeply negative operating cash flows and a sharp rise in borrowings point to significant financial stress and growing dependence on debt. Shareholders should treat this as a high-risk situation; the clean audit opinion does not offset the deteriorating profitability and leverage profile.