We herewith enclose the Audited Standalone and Consolidated Financial Results of the Company for the fourth quarter and year ended 31st march 2025 as approved by the Board of Directors ....
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Awaiting price reaction for this filing.
Satchmo Holdings reported standalone revenue from operations of Rs 159 lakhs for FY25, a steep drop from Rs 1,929 lakhs last year. The company swung to a loss after tax of Rs 1,674 lakhs versus a profit of Rs 356 lakhs in FY24, with EPS turning negative at Rs (1.06). Total income fell to Rs 530 lakhs from Rs 9,510 lakhs. Net worth remains deeply negative at Rs (94,673) lakhs with other equity at Rs (109,256) lakhs. The statutory auditor (KAMG & Associates) issued an Adverse Opinion, citing accumulated losses, negative working capital, defaults on bank dues, and the failure to adequately disclose going concern issues. The company faces ongoing IBC Section 7 proceedings at NCLT initiated by JC Flower ARC over a Rs 38,595 lakh default, with the next hearing scheduled for June 6, 2025. One-time settlement (OTS) with JCF ARC was revoked in November 2023, and disputed liabilities of Rs 48,233 lakhs sit on the books. The company also has multiple qualified observations including unreconciled balances, irregular statutory deposits (including Rs 128 lakhs TDS), and inventories of Rs 1,441 lakhs not tested for impairment.
This is a deeply concerning filing for shareholders — the company is technically insolvent with negative net worth, faces active insolvency proceedings, and its auditor has refused to certify the financial statements. The OTS revocation and IBC case heighten the risk of resolution proceedings that could significantly dilute or wipe out existing equity holders. Stock should be treated as high-risk with the possibility of trading restrictions or delisting action by the exchange.