Audited Financial Results (Standalone and Consolidated) for the quarter/year ended March 31, 2025
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For FY25, consolidated revenue from operations rose modestly to Rs. 70,719.63 lakhs from Rs. 68,510.19 lakhs in FY24, a growth of about 3%. The company reported a consolidated net loss of Rs. 3,991.83 lakhs, significantly narrower than the Rs. 8,446.53 lakhs loss in FY24. On a standalone basis, revenue grew to Rs. 67,697.30 lakhs with a loss after tax of Rs. 4,262.80 lakhs versus Rs. 8,749.61 lakhs in FY24, indicating the company remains loss-making but is improving. However, the Q4 FY25 consolidated revenue of Rs. 16,437.42 lakhs was sharply lower than Rs. 19,885.55 lakhs in Q4 FY24. Statutory auditor Mukund M. Chitale & Co. issued an unmodified opinion, but highlighted a GST demand of Rs. 7,025.61 lakhs plus Rs. 6,334.98 lakhs in penalty on the company, plus Rs. 133.61 crores penalty each on the JMD, CEO and CFO, which the company is contesting in court.
Losses narrowing year-on-year is a positive sign, but the company is still deep in the red and the massive GST demand (totalling over Rs. 400+ crores including penalties on key executives) is a major overhang that could weigh on the stock. The Q4 revenue dip on a consolidated basis is a near-term concern.