Pursuant to Regulation 30 and Regulation 33 of SEBI (Listing Obligations and Disclosure Requirement), 2015 we wish to inform you that the Board of Directors at its meeting held today i.e. ....
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The board approved audited results for FY25. Revenue from operations rose about 33% to Rs. 371.30 lakhs (vs Rs. 279.93 lakhs in FY24), but the company reported a wider net loss of Rs. 269.07 lakhs versus Rs. 243.82 lakhs last year, driven mainly by very high finance costs of Rs. 491.98 lakhs. The auditor (Mittal & Associates) gave an unmodified (clean) opinion on the financials. No dividend has been declared. The company also informed BSE that the redemption of 48.20 lakh 0.1% cumulative redeemable preference shares (face value Rs. 100), originally due on 14 May 2025, has been postponed by 6 years to 14 May 2031.
Negative shareholders' equity of about Rs. 9,391 lakhs, widening losses, heavy finance costs, and negative operating cash flow of Rs. 637 lakhs point to serious financial stress. The inability to redeem preference shares on time and their 6-year extension reinforces going-concern concerns; investors should treat this stock with caution.