Please find attached outcome of Board Meeting held on April 26, 2025.
Awaiting price reaction for this filing.
The board approved audited results for the quarter and full year ended March 31, 2025. On a consolidated basis, revenue from operations was nearly flat at ₹54.86 crore (vs ₹55.53 crore in FY24), but total expenses ballooned to ₹196.48 crore from ₹83.96 crore. Consolidated net loss after tax widened sharply to about ₹436.92 crore (including discontinued operations), compared to ₹25.33 crore in FY24. The consolidated balance sheet swung into deeply negative net worth of ₹(191.18) crore as against ₹245.74 crore a year ago, and total assets shrank to ₹276.74 crore from ₹525.94 crore. Standalone net loss was ₹90.14 crore (vs ₹33.08 crore in FY24) on revenue of ₹49.67 crore. Auditor Agarwal Prakash & Co. issued an unqualified opinion on both sets of results. The board also noted progress on the proposed composite Scheme of Arrangement to merge IEL and Dhani Services into Yaari Digital Integrated Services Limited, with NCLT approvals and shareholder/creditor consents secured; the second motion petition was filed on April 7, 2025.
Shareholders should note that the company's consolidated net worth has been fully eroded and losses have ballooned, signalling deep financial stress at the group level even though the auditor did not flag any going-concern issue. Near-term stock sentiment is likely to remain weak until clarity emerges on the ongoing NCLT-driven amalgamation with Dhani Services and Yaari Digital.