Outcome of the Board Meeting held on 13th August, 2025 for approval of Unaudited Standalone and Consolidated financial results for the quarter ended 30th June, 2025
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The Board of Raghuvir Synthetics, at its meeting on 13th August 2025, approved the Unaudited Standalone and Consolidated financial results for the quarter ended 30th June 2025, along with the Limited Review Report from statutory auditor G.K. Choksi & Co. The auditor gave an unmodified (clean) review opinion on both sets of results. However, the auditor specifically drew attention (Emphasis of Matter) to Note 5 regarding search operations conducted by the Directorate General of GST Intelligence (DGGI), Ahmedabad, at the company's premises under Section 67 of the CGST Act, 2017. The company has deposited Rs 1.88 Crores under protest and submitted required documents to authorities. Management has stated it does not expect any adverse consequences from this matter on its financial or operational position. Consolidated results include subsidiary Dreamsoft Bedsheets Pvt Ltd.
Near-term impact is limited as results were approved without any qualification and management is confident the GST matter will not adversely affect operations. However, investors should monitor the DGGI search outcome, as a final adverse order could create a future financial liability beyond the Rs 1.88 Crores already deposited under protest.