44th Annual Report for Financial Year 2024-25
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Rudra Ecovation (formerly Himachal Fibres) filed its 44th Annual Report for FY24-25 and announced its AGM on September 30, 2025 via video conferencing. Revenue from operations rose 33.59% to ₹2,735.24 lakhs, but the company swung deeper into losses — net loss widened to ₹350.03 lakhs from ₹115.64 lakhs in FY23-24, and EBITDA turned negative at ₹-88.77 lakhs versus ₹184.77 lakhs the prior year. A major highlight is the proposed merger with Shiva Texfabs Ltd (swap ratio 0.213:1), which received BSE's 'no adverse observations' letter on August 25, 2025, clearing the way for NCLT filing. The company operates a 100-acre Ludhiana facility recycling 8.8 million PET bottles daily and runs the Anaura sustainable fabric brand. Several board-level changes occurred, including new CEO and CFO appointments during the year.
Mixed signals for shareholders: top-line growth is encouraging, but sharply worsening margins and tripling losses raise profitability concerns. The Shiva Texfabs merger could reshape the business, but it remains pending NCLT and shareholder approvals. Investors should weigh the revenue momentum against deteriorating cash profitability before taking a view.