Audited Standalone Financial Result of the Company for the quarter and year ended March 31, 2025.
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Prashant India Ltd reported a net loss of Rs. 20.02 lakhs for FY25, narrower than the Rs. 35.84 lakhs loss in FY24, but revenue dropped sharply to Rs. 30.29 lakhs from Rs. 43.43 lakhs. Total income from operations fell about 30% year-on-year. The auditor (Soni Jhawar & Co.) issued a Qualified Opinion, flagging that the company has not provisioned for interest of about Rs. 112 crore on strategic investors' secured loans (accumulated since FY01), doubtful debts of about Rs. 8.83 lakh, and gratuity/leave encashment liabilities under Ind AS 10. The auditor also highlighted serious going concern doubts — the company has only 5 staff, negative reserves of Rs. 3,744.81 lakhs, negative net worth of Rs. 3,321.27 lakhs, and short-term borrowings of Rs. 3,460.59 lakhs sitting against total assets of just Rs. 257.24 lakhs. Operating cash flow was negative at Rs. (90.29) lakhs. Management plans to sell assets, settle with creditors, and find new investors.
Extremely negative for shareholders — the auditor has raised a qualified opinion with explicit going concern doubts, and over Rs. 112 crore of unprovided interest could turn the small balance sheet upside down. Stock is high-risk; existing equity holders face serious dilution or wipeout risk if liabilities are crystallised.