Shah Metacorp Limited has informed the Exchange regarding Board meeting held on May 06, 2025.
SHAH · price
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On the reaction day the stock moved 1.3 pts less than Nifty Microcap 250 and 0.6 pts less than its Iron & Steel Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Shah Metacorp Limited (formerly Gyscoal Alloys) announced audited standalone and consolidated financial results for Q4 and FY25, approved at the May 6, 2025 board meeting. Standalone revenue from operations nearly doubled to Rs 170.78 crore from Rs 91.87 crore in FY24. Standalone profit after tax surged to Rs 32.36 crore from Rs 4.21 crore, but this was boosted by a one-time exceptional item of Rs 24.82 crore and a deferred tax credit of Rs 2.68 crore. The auditor (M/s Ashok Dhariwal & Co.) issued an unmodified opinion but flagged an Emphasis of Matter relating to old trade receivables of Rs 88.82 crore, against which Rs 63.97 crore has been provided as doubtful. The company also increased authorised share capital from Rs 50 crore to Rs 110 crore, issued fresh equity on a preferential basis, and acquired Western Urja Pvt Ltd as a subsidiary.
Headline profit growth looks spectacular but is largely driven by non-recurring exceptional items and tax adjustments rather than core operations. Operating cash flow remains deeply negative (Rs -46.34 crore standalone) and trade receivables more than doubled to Rs 126.16 crore, signalling working-capital stress that shareholders should watch closely despite the debt reduction and OTS clearance with Omkara.