Pursuant to Reg. 34(1)(a) of the SEBI (LODR) Regulations, 2015, we submit herewith the Annual Report of the Company for the F.Y. 2024-25. Please note that the 38th AGM of the Company ....
Awaiting price reaction for this filing.
SRM Energy Ltd filed its 38th Annual Report for FY 2024-25 along with the notice for its AGM scheduled on September 26, 2025 via video conferencing. The company reported zero revenue from operations for the second consecutive year, with a standalone loss of Rs. 37.58 lakhs and a consolidated loss of Rs. 38.54 lakhs. Its negative net worth widened from Rs. 371.99 lakhs to Rs. 410.23 lakhs and accumulated losses rose to Rs. 1,316.23 lakhs. Statutory auditors issued qualified opinions flagging material going concern uncertainty and a Rs. 132 lakh equity investment in the wholly-owned subsidiary that may need impairment. The company is selling its stake in the subsidiary (SRM Energy Tamilnadu Pvt Ltd) to its holding company Spice Energy Pvt Ltd for Rs. 1 lakh, approved via postal ballot on August 22, 2025, and proposes appointing M/s Rajat Associates as new statutory auditors for 5 years at Rs. 1.20 lakh per year. No dividend was recommended.
Shareholders should note the company has no active business, eroding net worth, qualified audit on going concern, and legal proceedings involving its former subsidiary. The AGM will seek approval of financials, director re-appointment, and auditor change, but there are no positive operational developments likely to lift the stock.