Approval of Audited Financial Statements for year ended 31.03.2025 of the Company
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The board approved standalone audited financial results for Q4 and FY25. Total income rose to Rs. 85.13 lakhs from Rs. 20.47 lakhs in FY24, but core revenue from operations was almost flat at Rs. 22 lakhs (vs Rs. 20.45 lakhs). Net profit jumped to Rs. 63.70 lakhs from Rs. 0.27 lakhs, but the increase was driven almost entirely by other income of Rs. 63.13 lakhs rather than operations. The statutory auditor issued an unmodified (clean) opinion, yet specifically drew attention to the fact that the company's equity has been completely wiped out, with accumulated losses exceeding equity, leaving net worth at negative Rs. 35.89 lakhs. Operating cash flow was a thin Rs. 0.15 lakhs. The board also approved the appointment of internal and secretarial auditors.
Despite reporting a profit, the company's negative net worth is a serious red flag that raises going concern doubts. The profit is non-recurring in nature (driven by other income, not core business), and shareholders should treat the headline numbers with caution given the eroded equity base.