Pursuant to Regulations 34(1) of SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015, as amended, please find enclosed herewith copy of Annual Report for the Year 2024-25. ....
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Shiva Granito Export Ltd, listed on BSE's SME platform, submitted its Annual Report for FY 2024-25. Revenue from operations rose to Rs. 860.49 Lacs from Rs. 543.67 Lacs in the previous year, a healthy jump of about 58%. However, profit before tax fell sharply to Rs. 7.28 Lacs (vs Rs. 116.82 Lacs last year) and net profit dropped to just Rs. 2.48 Lacs (vs Rs. 83.17 Lacs), mainly due to higher other income in the prior year. No dividend was declared. The statutory auditor issued a qualified opinion flagging three issues: no expected credit loss provision on trade receivables of about Rs. 76.9 Lacs, no interest provision for delayed payments to MSME vendors, and no gratuity provision. The AGM is scheduled for September 30, 2025, where shareholders will consider re-appointment of directors and auditors and the appointment of a new Independent Director, Mr. Satish Heda.
Mixed signals for shareholders — strong top-line growth is positive, but the sharp drop in profitability and auditor's qualifications on receivables and compliance issues raise concerns. Investors should watch for clarity on recovery of overdue trade receivables and any future provisioning, as these could materially affect reported earnings. The stock may react cautiously given the weak bottom line and audit qualifications despite higher revenue.