Statement of Audited Standalone and Consolidated Financial Results for the Quarter ended on 31st March 2025
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Awaiting price reaction for this filing.
Raghunath International reported a sharp jump in full-year FY25 performance, with standalone total income rising to Rs. 389.71 lakhs from Rs. 83.33 lakhs in FY24 (roughly 4.7x growth). Standalone profit after tax surged to Rs. 228.30 lakhs from Rs. 14.50 lakhs, translating to EPS of Rs. 4.57 vs Rs. 0.29. Consolidated PAT was even higher at Rs. 292.84 lakhs, helped by a Rs. 24.54 lakh share in profit of associates. However, the Q4 standalone PAT of Rs. 4.85 lakhs was lower than Rs. 7.55 lakhs in Q4 FY24. Cash flow from operations was negligible at Rs. 0.33 lakhs despite the large reported profit, showing poor cash conversion. The auditor (VVG & Co) issued a qualified opinion flagging Rs. 22.30 lakhs of debtors overdue for over six months with no provision made, and also flagged that this qualification has appeared before.
The headline numbers look strong, but the qualified auditor opinion on long-pending debtors and the gap between book profit and actual operating cash flow are yellow flags for retail investors. The stock may see short-term positive reaction on the multi-fold profit jump, but persistent audit qualifications suggest underlying receivable and accounting quality concerns.