Outcome Of Board Meeting Held On 21St May, 2025 For the approval of Audited Standalone Financial Results for the quarter and year ended 31.03.2025
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The board approved audited standalone financial results for Q4 and FY ended March 31, 2025, with the statutory auditor issuing an unmodified opinion. Full-year revenue grew modestly to ₹4,650.28 lakhs (vs ₹4,076.72 lakhs in FY24), but profit after tax fell sharply to ₹190.98 lakhs (vs ₹366.53 lakhs), partly boosted by a one-time exceptional gain of ₹216.59 lakhs from sale of a portion of land. The company restated prior-period figures to recognise gratuity liability (Ind AS 19), and other equity remains negative at -₹856.90 lakhs with very high borrowings of ₹5,803.60 lakhs. Operating cash flow turned negative at -₹419.49 lakhs, and the board has approved a Rights Issue of up to ₹35,000 lakhs (DLOF filed with SEBI) to repay promoter/group unsecured loans and for general corporate purposes.
Short-term stock impact may be muted — topline growth is modest and core profitability (ex-exceptional item) has weakened, with negative operating cashflow and a strained balance sheet. The large Rights Issue, if successfully subscribed, could reduce reliance on unsecured promoter loans but will also dilute existing shareholders and depends on regulatory approvals.