Pursuant to Regulation 30 and Regulation 33 read with Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, (''Listing Regulations''), we wish to inform ....
Awaiting price reaction for this filing.
Garodia Chemicals reported its FY25 (ended March 31, 2025) audited results, showing zero revenue from operations and a net loss of ₹20.77 lakhs, wider than the ₹13.11 lakh loss in FY24. Total expenses stood at ₹20.77 lakhs with no income to offset them. The company has negative total equity of ₹469.71 lakhs and borrowings of ₹481.87 lakhs. Crucially, the auditor flagged an Emphasis of Matter noting that the financial statements are NOT prepared on a going concern basis, as management has decided to cease business operations. Three directors (Megha Brahmankar, Suraj Kodak, and Vikram Sabnis) were re-designated from Additional Non-Executive Director to Independent Director. The auditor's opinion remains unmodified but the going concern disclosure is a major red flag.
This is a deeply negative signal for shareholders — the company is effectively winding down with no revenue, mounting losses, negative net worth, and management has abandoned the going concern assumption. The stock is likely illiquid and high-risk; investors should treat this as a cautionary signal about the company's viability.