Outcome of Board Meeting held for approval of Audited standalone & consolidated Financial Results for quarter and year ended 31st March, 2025
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Raideep Industries' board, at its meeting on 27 May 2025, approved the audited standalone and consolidated financial results for the quarter and year ended 31 March 2025 along with the cash flow statement and balance sheet. Statutory auditor Montek S & Associates issued an unmodified opinion on the results, but flagged several emphasis-of-matter items including: no physical inventory verification, missing balance confirmations from debtors/creditors, significant related party (sister concern) transactions, a Rs. 148.06 lakh land and building whose title deed is still not in the company's name, and non-recognition of Ind AS 116 lease liabilities. On a standalone basis, FY25 revenue from operations fell to Rs. 22.90 crore (from Rs. 25.55 crore in FY24, a ~10% decline), while profit after tax was nearly flat at Rs. 21.53 lakh (FY24: Rs. 21.67 lakh), with EPS at Rs. 0.39. On a consolidated basis, net profit dropped sharply to Rs. 113.10 lakh from Rs. 186.49 lakh (~39% decline). The company also reported negative operating cash flow of Rs. 168.91 lakh for FY25 (FY24: -Rs. 117.09 lakh). Borrowings remain negligible (~Rs. 16 lakh) and the company confirmed it is not classified as a Large Corporate under SEBI norms.
Mixed-to-negative for shareholders: top-line shrank, consolidated profits fell sharply, and cash burn from operations worsened, though standalone PAT held flat. More importantly, the multiple emphasis-of-matter flags — related-party concentration, missing confirmations, Ind AS 116 non-compliance, and pending property title — point to weak internal controls and governance that investors should weigh carefully.