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 has filed its 41st Annual Report along with the AGM Notice for FY 2024-25 with BSE. The 41st AGM is scheduled for Tuesday, September 30, 2025 at 3:30 p.m. at the company's registered office in Andheri (East), Mumbai. Key agenda items include adoption of audited financial statements and the reappointment of Mr. Shonit Dalmia (DIN: 00059650) as Managing Director for 3 years (August 14, 2025 to August 13, 2028) with a proposed salary of up to Rs. 3,00,000 per month. Financially, the company's total revenue rose modestly to Rs. 4,676.17 lakhs (from Rs. 4,468.68 lakhs in FY24), but it swung to a standalone loss after tax of Rs. 308.28 lakhs versus a profit of Rs. 12.78 lakhs in FY24, citing economic conditions and intense competition in the textile industry. Shareholders' funds also shrank sharply to about Rs. 2.01 lakhs as on March 31, 2025.
Shareholders will vote on key resolutions including adoption of loss-making financials and MD reappointment at the September 30 AGM. The sharp swing to a loss and the depleted shareholders' funds are red flags that may weigh on investor sentiment, though revenue growth offers a slight positive signal.