Pursuant to Regulation 30 and other applicable provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, the meeting ....
Awaiting price reaction for this filing.
Viaan Industries Ltd, now renamed Redmax Footwears Limited (MCA approval dated May 5, 2025), held its board meeting on May 30, 2025 and approved the audited standalone financial results for Q4 and FY ended March 31, 2025. Auditor M/s. Ashwani & Associates issued an unmodified (clean) opinion on the financials. The company reported a loss for the period of approximately ₹32.14 lakhs for FY25, compared to a loss of ₹8.49 lakhs in the corresponding quarter of FY24. Three new independent directors were appointed: Mr. Amit Singhania (Chartered Accountant, ex-Shardul Amarchand partner), his wife Mrs. Rupali Singhania (PwC background), and Mr. Himanshu Kumar, each for a 5-year term subject to shareholder approval.
Shareholders should note the company posted a full-year loss with negative other equity of ₹22.60 lakhs and a sharp jump in borrowings (from ₹6 lakhs to ₹75 lakhs), while its shares remain under NSE/BSE Graded Surveillance Measures (GSM) Stage IV, meaning trading restrictions are still in place. The clean audit opinion and credible new independent directors are positives, but the weak financials and ongoing GSM surveillance remain concerns for retail investors.