Integrated Filing of Audited Results for the quarter and year ended March 31, 2025 along with the Auditors Report and statement of Impact of Audit Qualifications and other annexures
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Awaiting price reaction for this filing.
Satchmo Holdings filed audited FY25 results and the auditor issued an ADVERSE opinion due to severe going concern issues. The company has a deeply negative net worth of Rs 94,673 lakhs versus total assets of Rs 28,942 lakhs. Total income fell sharply from Rs 9,510 lakhs (FY24) to Rs 3,755 lakhs (FY25), with Q4 FY25 alone posting a loss of Rs 994 lakhs. The reported FY25 profit of Rs 1,551 lakhs was entirely driven by exceptional items of Rs 3,225 lakhs (write-back of old payables). Operating cash flow was deeply negative at Rs -3,835 lakhs. The auditor flagged defaults on One-Time Settlements with JCF ARC (YES Bank) and HDFC, ongoing NCLT insolvency proceedings filed by JC Flower ARC over Rs 38,595 lakhs of dues, Rs 48,233 lakhs in disputed liabilities, GST registration cancellation, and unfunded gratuity liabilities.
This is a deeply distressed company with material going concern risk and active insolvency proceedings at NCLT. Shareholders face extreme downside risk; the adverse audit opinion (sixth consecutive qualified year) and unresolved OTS defaults heighten the chance of liquidation or restructuring. Expect continued high stock-price volatility and potential delisting risk.