We are enclosing herewith Un-audited financial results along with Declaration of the company on Un-audited financial statements for the quarter ended 30th June 2024 along with limited review ....
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Awaiting price reaction for this filing.
Samtel India Ltd has filed its un-audited standalone financial results for Q1 FY25 (quarter ended 30 June 2024). Total income stood at Rs 3.45 lakhs, essentially flat versus Rs 3.45 lakhs in the corresponding quarter of the previous year. The company swung from a loss of Rs 0.93 lakh in Q1 FY24 to a marginal profit of Rs 0.40 lakh in Q1 FY25. The statutory auditor (R Sharma & Associates) issued an unmodified opinion on the limited review, but drew specific attention to the going concern basis on which the accounts have been prepared. Net cash from operating activities was negative at Rs (0.97) lakh, and other equity remains deeply negative at Rs (512.04) lakhs. Crucially, the company's equity shares were delisted from BSE w.e.f. 8 May 2024, and the matter is currently sub-judice before the Securities Appellate Tribunal where the company has challenged the delisting order.
This is a very weak and concerning filing. Revenue is negligible, the company is loss-making on a full-year basis, operating cash flows are negative, and reserves are deeply eroded. Most importantly, the shares have already been delisted from BSE, meaning shareholders face a serious liquidity and valuation risk with the legal challenge still pending. Retail investors should treat this stock with extreme caution.