Reference to the subject mentioned above, this is to inform you that the meeting of the Board of Directors of the company concluded at 6.00 P.M which was held on Thursday, May 29, 2025, ....
Awaiting price reaction for this filing.
The board of Shree Narmada Aluminium Industries approved its audited financial results for Q4 and full year ended March 31, 2025. The company reported zero revenue from operations for the entire year, with only Rs. 61.84 lakhs of other income. Despite this, it posted a full-year profit before tax of Rs. 27.82 lakhs (vs a loss of Rs. 27.81 lakhs in FY24), though Q4 FY25 itself swung to a loss of Rs. 20.10 lakhs. The auditor SVH & Associates issued a qualified opinion, flagging that the company is classified as a sick industrial company, its net worth is fully eroded (negative Rs. 719.83 lakhs), and a court receiver is in possession of its Bharuch factory following a DRT-III order. The company won an appeal in the Gujarat High Court on March 10, 2025, and has filed a caveat in the Supreme Court. Total assets are just Rs. 9.74 lakhs against borrowings of Rs. 698.73 lakhs.
This is a deeply distressed micro-cap stock. With no operating revenue, fully eroded net worth, secured creditor possession of its factory, and a qualified audit opinion citing material going-concern uncertainty, shareholders face significant risk of value erosion. The stock is not suitable for risk-averse investors and should be treated as a speculative distressed asset.