Please find enclosed herewith the 41st Annual Report along with a Notice of 41st Annual General Meeting for the FY 2024-25.
Awaiting price reaction for this filing.
Konark Synthetic Limited (BSE: 514128) has submitted its 41st Annual Report along with the notice for the 41st AGM, scheduled for Tuesday, September 30, 2025 at 3:30 p.m. at the registered office in Andheri (East), Mumbai. The ordinary business includes adoption of the standalone and consolidated audited financial statements for FY 2024-25 and reappointment of Managing Director Mr. Shonit Dalmia, who retires by rotation. The special business seeks shareholder approval for his reappointment as Managing Director for a further 3-year term (August 14, 2025 to August 13, 2028) with a salary of up to Rs. 3,00,000 per month plus perquisites. The company swung from a profit of Rs. 12.78 lakhs in FY24 to a loss of Rs. 308.28 lakhs in FY25, despite revenue rising to Rs. 4,673.56 lakhs from Rs. 4,360.44 lakhs. Shareholders' funds dropped sharply from Rs. 309.83 lakhs to just Rs. 2.02 lakhs. The directors attributed the poor performance to economic conditions and intense competition in the textile industry.
For shareholders, this is a negative signal — the company has slipped back into a loss and its net worth has been almost entirely eroded. While the AGM items are largely procedural, the weak financials and near-zero shareholder equity may raise concerns about the company's financial health and put downward pressure on the stock.