Please find attached the outcome of the Board meeting for today i.e., 29th May, 2025 at the registered office of the Company, in accordance with the provisions of Regulation 30 of the Securities ....
Awaiting price reaction for this filing.
The Board of GB Global Ltd (formerly Mandhana Industries) approved audited financial results for Q4 and FY ended 31st March 2025. Standalone FY25 revenue from operations stood at Rs 19,122.10 lakhs (down from Rs 21,929.93 lakhs in FY24), while standalone PAT surged to Rs 10,816.36 lakhs (vs Rs 4,038.82 lakhs in FY24), translating to an EPS of Rs 22.62. Consolidated FY25 PAT was Rs 10,610.14 lakhs. The statutory auditor (Bhuta Shah & Co LLP) issued a qualified/modified opinion, flagging incomplete inventory details and pending confirmations of trade payables, receivables, advances, and GST balances. The Board also appointed M/s. Pradip Mohanlal Damania as Cost Auditor (FY26), M/s. Himesh Pandya & Associates as Secretarial Auditor (FY25), and an Internal Auditor (FY26). Additionally, the Board approved modifications to the draft merger scheme (by absorption) with Dev Land & Housing Pvt Ltd and authorised Managing Director Vijay Thakkar to pursue voluntary delisting under the scheme.
Sharply higher FY25 profits (PAT nearly 2.7x YoY despite lower revenue) are positive for shareholders, but the qualified audit opinion on inventory and receivables reconciliations is a red flag warranting caution. The merger with Dev Land & Housing and proposed voluntary delisting could significantly affect minority shareholders — the eventual exit price and swap ratio will be key watchpoints.