Financial Results for the Quarter and Year ended 31.03.2025
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Risa International Ltd reported a net loss of Rs. 900.22 lakhs for FY25, slightly narrower than the Rs. 1,477.24 lakhs loss in FY24, but the company remains deeply unprofitable. The company wrote off bad debts of Rs. 858.98 lakhs during the year as irrecoverable. Other equity has fallen to negative Rs. 3,554.67 lakhs, meaning the company's accumulated losses have fully eroded its share capital of Rs. 3,190.01 lakhs. The statutory auditor (AMS & Co LLP) issued an unmodified opinion but flagged an Emphasis of Matter about a material uncertainty on the company's ability to continue as a going concern, citing continued losses, nil business activity, and a pending income tax demand. Cash on hand at year-end was just Rs. 0.14 lakhs. The board also appointed a new secretarial auditor and internal auditor, and accepted the resignation of Whole-time Director Arihant Jain effective June 2, 2025.
Shareholders face serious concerns: net worth is fully eroded, the auditor has explicitly flagged going concern uncertainty, and cash reserves are nearly nil. The loss narrowed year-on-year but only because of a smaller bad-debt write-off; underlying business activity appears minimal. Stock price is likely to remain under pressure until management demonstrates concrete revenue revival and capital infusion.