Enclosed Audited financial results for the fourth quarter and financial year ended 31st March 2025 along with Statutory Auditor's report thereon
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RNIT AI Solutions (formerly Autopal Industries) reported audited FY25 results showing a dramatic turnaround driven by its post-insolvency restructuring. Total income for FY25 jumped to Rs 3,228.27 lakhs from Rs 813.53 lakhs in FY24, while net profit surged to Rs 720.95 lakhs from a loss of Rs 31.64 lakhs. EPS for the full year stood at Rs 1.00 versus Rs (0.90) previously. The company underwent a major transformation following NCLT approval of a resolution plan in September 2024, under which promoter shares were extinguished, 75% of public shareholders' shares were cancelled, and RNIT Solutions & Services was merged into the company. Total assets expanded sharply from Rs 1,498.94 lakhs to Rs 9,702.87 lakhs, and equity share capital rose to Rs 7,179.20 lakhs from Rs 349.64 lakhs. The statutory auditor issued an unmodified (clean) opinion, and the company operates in a single segment of software development and AI services.
This filing essentially marks a new beginning for shareholders, as the previous Autopal business was restructured through insolvency proceedings with massive share cancellation. While reported profits and revenues look impressive, shareholders should note that comparisons are not like-for-like given the corporate restructuring. Operating cash flow was negative despite accounting profit, and significant loans are outstanding to directors, warranting closer scrutiny.