Results and outcome for quarter and year ended on March 31, 2025
Awaiting price reaction for this filing.
Ace Engitech Limited (formerly Prem Somani Financial Services Limited) announced its audited standalone results for FY25 on May 23, 2025. The company reported negligible operational revenue of just ₹6 lakhs for the full year, with total income of only ₹1.55 lakhs (vs ₹1.47 lakhs last year). Total expenses surged to ₹50.31 lakhs (from ₹15.72 lakhs), leading to a sharply widened net loss of ₹48.09 lakhs for FY25 versus a loss of ₹15.54 lakhs in FY24. The balance sheet shows total assets shrinking to ₹45.68 lakhs (from ₹88.89 lakhs) and shareholder equity is negative, indicating accumulated losses have wiped out net worth. Operating cash flow was also negative at ₹9.39 lakhs. The statutory auditor, Rajvanshi & Associates, issued an unmodified (clean) opinion. The board also approved an alteration in the company's MOA.
This is a significant negative for shareholders — the company is loss-making, has a negative net worth, negligible revenue, and burning cash, raising serious going-concern questions despite the clean audit opinion. The stock is likely to remain under pressure and illiquid.