Financial Result for the year ended 31 March 2025
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Polymac Thermoformers reported its audited FY25 results on 17 May 2025. Revenue from operations fell sharply to Rs. 919.94 lakhs from Rs. 1,527.70 lakhs in FY24, a drop of nearly 40%. Despite the steep revenue decline, net profit jumped to Rs. 26.81 lakhs from just Rs. 4.43 lakhs last year, mainly because expenses were trimmed and finance costs came down. Total assets stood at Rs. 1,853.08 lakhs against Rs. 1,890.60 lakhs, while shareholders' funds stayed almost flat at Rs. 1,061.90 lakhs. Cash flow from operations swung positive at Rs. 69.50 lakhs versus a negative Rs. 98.01 lakhs in FY24. Statutory auditor Pankaj Verma & Associates issued an unmodified (clean) opinion.
The sharp revenue slump is a red flag for the business, but bottom-line improvement and better cash generation offer some comfort. The large related-party loans with common-director entities (Yaduka Agrotech, Ambition Tradecom, Homiton Houseware) are worth watching closely, as they can raise governance concerns for minority shareholders.