As intimated vide our letter Ref.: SATCHMO/001/2025-26 dated April 18, 2025, the Board of Directors of the Company met on Wednesday, April 30, 2025 and amongst other businesses, have considered ....
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Awaiting price reaction for this filing.
Satchmo Holdings' Board met on April 30, 2025 and approved audited financial results for Q4 and FY ended March 31, 2025. The company reported a full-year profit of Rs. 1,551 lakhs (boosted by Rs. 3,225 lakhs in exceptional items from old payable write-backs), but posted a Q4 standalone loss of Rs. 994 lakhs. The statutory auditor issued a Modified Opinion with an Adverse Opinion on standalone results, flagging going concern doubts due to a deeply negative net worth of Rs. 94,673 lakhs and ongoing NCLT insolvency proceedings filed by JC Flower ARC over a Rs. 38,595 lakh default. The Board also approved the re-appointment of Mr. L.S. Vaidyanathan as Executive Director - Business Development for one year (June 2025 to May 2026) and appointed new Internal and Secretarial Auditors for FY26.
This is a deeply negative filing for shareholders - the company has a negative net worth, faces active insolvency proceedings, has defaulted on One-Time Settlements with lenders (JCF ARC and HDFC), and the auditor has cast serious doubt on the going concern assumption. Shareholders face significant risk of dilution or value loss; stock price is likely to remain under pressure.