Results_Audited Financial Results (Standalone And Consolidated) For The Year Ended 31St March, 2024
Awaiting price reaction for this filing.
Emmsons International reported audited results for FY25, posting a standalone net loss of Rs. 37.95 lacs on total income of Rs. 54.49 lacs, compared to a loss of Rs. 19,112.22 lacs on Rs. 3.84 lacs income in FY24 (the prior year's large loss was driven by one-time finance costs of Rs. 19,039.82 lacs). No interest has been provisioned this year because the company's bank accounts have been classified as Non-Performing Assets since 2014-15, with the matter still sub-judice. Accumulated losses stand at Rs. 2,35,263.59 lacs and net worth is fully eroded at negative Rs. 2,34,063.98 lacs, with current liabilities far exceeding current assets. The auditor issued a qualified opinion highlighting material uncertainty on going concern, and also flagged pending sundry creditor confirmations and unquoted investments worth Rs. 882.02 lacs. The board also approved the appointment of Mrs. Pinki Kaushik as Non-Executive Women Independent Director, re-appointed Mr. Munesh Singh as Internal Auditor, and appointed M/s Saurabh Agrawal & Co. as Secretarial Auditor for five years.
The company's net worth is completely wiped out and it remains dependent on resolutions around its decade-old NPA status, which is still in court. Shareholders face continued uncertainty on the stock's viability as the auditor has flagged going concern doubts for the fifth consecutive year, and there is no clarity on when normal business operations or loan settlements will resume.