Audited Financial Results of the Company for the Quarter and Financial Year ended 31st March, 2025.
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
The company has submitted its audited annual results for FY25, reporting a total income of Rs 91.60 lakhs, down from Rs 100.46 lakhs in FY24. The company reported a net loss of Rs 110.90 lakhs for the year, though this is an improvement from the Rs 137.08 lakhs loss in FY24. Critically, the company has shut down its manufacturing operations due to repeated losses and has already disposed of its plant and machinery. The auditor issued a qualified opinion and flagged a material uncertainty about the company's ability to continue as a going concern. The board has agreed to hire a consultant to set up a new project, and the company has also entered an agreement to sell its leasehold land, receiving Rs 999 lakhs as advance. Net worth stands at Rs 1,513.72 lakhs with total assets of Rs 2,645.40 lakhs. Auditor questioned the recognition of Rs 609.57 lakhs in deferred tax assets given the company's history of losses.
Multiple red flags here: factory operations have stopped, qualified audit opinion, and going concern doubts. The company is essentially in transition mode, looking at a new project and asset sales to stay afloat. Shareholders face significant uncertainty and risk of further value erosion.