Outcome of the Board Meeting dated 29th May, 2025
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The board approved audited standalone and consolidated financial results for Q4 and FY ended 31st March 2025, with the statutory auditor (Kirtane & Pandit LLP) issuing an unmodified (clean) opinion. Standalone revenue from operations grew ~29% YoY to Rs. 8,620.63 lakhs (from Rs. 6,675.68 lakhs), while profit after tax rose modestly ~4% to Rs. 827.65 lakhs (from Rs. 795.70 lakhs), as EBITDA margin compressed to roughly 15.6% from 18.3%. The board also approved a 1:1 bonus issue, a stock split from Rs. 10 to Rs. 2 face value (1 share becoming 5), a Rs. 2 dividend per share (Rs. 0.20 post-split), and the sale of 100% stake in wholly-owned subsidiary Visicon Power Electronics to Silicon Power Corporation (USA) for Rs. 216 lakhs. Dr. Harshad Mehta was appointed as Chairman while Mr. N. Ramesh Kumar resigned as director.
Strong revenue growth, bonus issue, stock split and dividend are shareholder-friendly actions that should improve retail participation and liquidity. However, the weak PAT growth and margin compression signal rising cost pressures, and the large capex outflow (Rs. 7,915.55 lakhs investing) wiped out nearly all cash reserves, which is worth monitoring despite the positive corporate actions.