Submission of Audited Standalone Financial results for half year and year ended Marc 31, 2025
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Resourceful Automobile Ltd reported FY25 revenue from operations of Rs. 2,062.86 lakhs, up about 7% from Rs. 1,932.19 lakhs last year. Profit after tax fell sharply to Rs. 127.07 lakhs (down ~35%) from Rs. 194.64 lakhs in FY24, pulling EPS down to Rs. 4.78 from Rs. 11.93. The company raised Rs. 11.99 crores via IPO in August 2024 by issuing 10.24 lakh shares at Rs. 117 each, and unutilised IPO funds are parked in an Axis Bank escrow account. The auditor (NYS & Co.) issued an unmodified opinion but flagged several Emphasis of Matter items: irregular TDS compliance with no interest provision, delayed GST filings and excess ITC claims under CGST Rule 36(4), unpaid income tax liability for the previous year, and balances (debtors, creditors, loans, inventory) that are management-certified without independent verification. Net cash from operations was negative at Rs. (311.03) lakhs, worse than Rs. (233.97) lakhs last year.
Short-term shareholders may view the PAT decline and weak operating cash flow negatively, while the management declarations, tax non-compliance flags, and reliance on management-certified balances raise governance red flags despite an otherwise clean audit opinion.