Please find the attached 33rd Annual Report of the Company
Awaiting price reaction for this filing.
Cresanto Global Ltd (formerly Raymed Labs Limited) has filed its 33rd Annual Report for FY 2024-25 along with the AGM notice scheduled for September 29, 2025 via video conferencing. The AGM seeks shareholder approval for several major items: (1) a 90% reduction in share capital — from 42,73,500 equity shares to just 4,27,350 shares — by writing off Rs. 3.84 crore of accumulated losses (out of total accumulated losses of Rs. 6.86 crore), (2) ratification/approval of related party transactions worth up to Rs. 62.5 crore with five entities having common directors or management, and (3) appointment of a new secretarial auditor for a 5-year term. The company describes itself as operating in flexible packaging and material trading, and has undergone multiple board and company secretary changes during the year.
The proposed 90% capital reduction is a major red flag — it effectively cancels nearly 9 out of every 10 shares to offset heavy accumulated losses, meaning significant value erosion for existing shareholders unless NCLT approvals and the scheme benefit the stock. The large related party transaction limits (Rs. 62.5 crore across five group entities) also warrant close scrutiny for potential fund diversion.