Outcome of Board Meeting of the Company held on 29th May, 2025
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Awaiting price reaction for this filing.
Risa International's board met on May 29, 2025 and approved the audited financial results for Q4 and FY ended March 31, 2025, which carried an unmodified opinion from the auditor. The company reported a net loss of Rs. 900.22 lakhs for FY25 (vs. a loss of Rs. 1,477.24 lakhs in FY24), and other equity is deeply negative at Rs. (3,554.67) lakhs, showing full erosion of net worth. During the year, the company wrote off Rs. 858.98 lakhs as bad debts and the auditor flagged that there was essentially 'no business/income' during the year, along with an income tax demand under appeal. The auditor issued an Emphasis of Matter on going concern, citing losses, eroded net worth, lack of income, and the tax dispute, though management believes it can infuse funds and revive operations. The board also appointed a new Secretarial Auditor (5-year term) and Internal Auditor for FY26, and accepted the resignation of Whole-time Director Arihant Jain effective June 2, 2025.
This is a deeply negative filing for shareholders - the company is loss-making with fully eroded net worth, no operating revenue, and an explicit going-concern warning from the auditor. Stock price is likely to remain under pressure and the company faces serious survival questions despite management's reassurance.