Revised Financial Results for the quarter and year ended 31.03.2025.
Awaiting price reaction for this filing.
The company reported revised audited results for FY25, showing total income of ₹523.06 lakhs (down from ₹673.93 lakhs in FY24). Net profit came in at ₹308.61 lakhs versus ₹408.23 lakhs in the previous year, with EPS of ₹8.82 (down from ₹11.67). The spinning division continues to be classified as a discontinued operation since September 2020. The balance sheet reveals deeply negative net worth of ₹(1,535.33) lakhs with accumulated losses of ₹3,449.58 lakhs, and current liabilities exceeding current assets. Total borrowings stand at ₹1,742.30 lakhs (₹753.03 lakhs non-current + ₹989.27 lakhs current). The auditor (K.S. Rao & Co.) issued a Qualified Opinion with two qualifications: unprovided interest of ₹2.69 lakhs on unpaid TDS and unresolved long-pending payables of ₹58.59 lakhs — both repetitive from the past four years. The company also appointed a new internal auditor (M/s. LANS & Co.) for FY26.
Despite reporting a headline profit, the company remains structurally weak with negative net worth, accumulated losses of ₹34.5 crore, and a qualified audit opinion for four consecutive years, suggesting significant financial distress and elevated risk for shareholders.