Results- For the Financial Year ending 31 March 2025
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Raconteur Global Resources Limited reported sharply lower earnings for FY25 with total income falling to Rs. 50.74 lakhs from Rs. 171.57 lakhs in FY24, a drop of about 70%. Net profit for the year slipped to Rs. 16.43 lakhs versus Rs. 111.22 lakhs last year, and EPS declined to Rs. 0.03 from Rs. 3.70. Total assets grew to Rs. 2,505.91 lakhs but total liabilities surged to Rs. 651.78 lakhs mainly due to short-term borrowings of Rs. 528.85 lakhs. The statutory auditor issued a Qualified Opinion because external confirmations could not be obtained for trade receivables, payables, loans and advances, and also flagged an Emphasis of Matter on these unconfirmed balances, including concerns over significant prior-year cash transactions and possible Income Tax Act compliance issues. The board also approved subscribing to MoAs and investing in shares of new companies to make them subsidiaries, appointed a new Secretarial Auditor, and made Ms. Hina the CFO.
The qualified audit opinion and unconfirmed balances raise red flags about financial reporting quality, and the steep fall in revenue and profit signals serious business slowdown, which may weigh negatively on investor confidence. Shareholders should view the auditor's qualifications and the new subsidiary expansion plan cautiously as the company's core operations are clearly weakening.