Audited financial Results for Financial Year ended 31.03.2025
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The board approved audited results for FY25. Standalone total income fell sharply from Rs. 501.34 lakhs to Rs. 215.56 lakhs (about 57% decline), but standalone profit after tax rose from Rs. 44.79 lakhs to Rs. 73.19 lakhs (~63% growth) helped by lower costs and a deferred tax credit. Consolidated PAT also swung positive to Rs. 20.60 lakhs from a Rs. 39.33 lakhs loss in FY24. However, the auditor explicitly flagged a going concern issue: current liabilities exceed current assets by Rs. 3,686 lakhs (standalone) and Rs. 6,868 lakhs (consolidated), and the consolidated auditor issued a qualified opinion. Operating cash flow was deeply negative on both bases (Rs. 491 lakhs standalone, Rs. 593 lakhs consolidated). Total short-term borrowings of Rs. 3,284 lakhs roughly equal total equity, and 85.9% of promoter shares are pledged. The board also re-appointed Mr. Narayanamurthi as CMD for 5 years and appointed new secretarial auditors.
Despite an improved headline PAT, the going concern qualification, collapsing revenues, negative operating cash flows, qualified opinion on consolidated results, and heavy pledging of promoter shares (85.9%) are serious red flags. The stock may remain volatile and risky until the company demonstrates a sustainable revenue revival beyond its new biotech MOU and acquisition plans.