Praxis Home Retail Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2025.
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Praxis Home Retail Limited submitted unaudited financial results for the quarter ended June 30, 2025. Revenue from operations fell to Rs. 2,350.39 lakhs, a decline of about 25% from Rs. 3,146.40 lakhs in Q1 FY25. The company reported a net loss of Rs. 1,646.82 lakhs, significantly wider than the Rs. 969.40 lakhs loss a year ago, with basic EPS at negative Rs. 1.22. Statutory auditors Singhi & Co. issued a Disclaimer of Conclusion, citing inability to obtain sufficient evidence on several matters including a Rs. 10,100 lakh security deposit receivable from related party Future Enterprises Limited (FEL), which is now under insolvency proceedings. The auditors flagged a material uncertainty about the company's ability to continue as a going concern, noting negative net worth (Rs. -12,909.56 lakhs), current liabilities exceeding current assets by Rs. 10,165.63 lakhs, and a cash loss of Rs. 1,104.55 lakhs during the quarter. Contingent liabilities stand at Rs. 4,577 lakhs (lease rental claim by FEL's RP) and Rs. 2,321 lakhs (claim by FLFL's RP). The company is relying on a Rights Issue of up to Rs. 4,958 lakhs to restore liquidity.
This is a deeply negative disclosure. A disclaimer of conclusion from auditors, fully eroded net worth, an explicit going concern warning, and heavy exposure to an insolvent related party make this a high-risk situation. Shareholders face meaningful dilution risk from the Rights Issue and should expect continued stock price pressure until the liquidity and recovery questions are resolved.