The Meeting of Board of Directors held on 23rd June, 2025 to Approve the Audited Financial Results as on 31st March, 2025 along with the Independent Auditor''s Report thereon. <BR> <BR> ....
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Shiva Granito Export Ltd announced its audited financial results for the half year and year ended 31 March 2025. Total revenue grew to Rs. 866.01 lakhs in FY25 from Rs. 670.46 lakhs in FY24, driven by higher Net Sales/Revenue from Operations of Rs. 860.49 lakhs vs Rs. 543.67 lakhs (about 58% jump). However, net profit collapsed sharply to just Rs. 2.48 lakhs (from Rs. 83.17 lakhs), and EPS fell to Rs. 0.02 from Rs. 0.63. The auditor issued a qualified opinion citing non-provision of expected credit loss on trade receivables of about Rs. 76.90 lakhs, no MSME interest provision, and no gratuity provision. Three emphasis-of-matter points were flagged, including non-availability of inventory stock records. Operating cash flow turned deeply negative at Rs. (764.85) lakhs compared to Rs. 734.12 lakhs last year, driven by a large spike in trade receivables and other current assets.
Despite strong revenue growth, profitability has nearly vanished and operating cash flow is sharply negative, signalling working capital strain and collection issues. The qualified audit opinion (a repeat qualification from last year) and inventory record concerns are red flags that may weigh on investor confidence and the stock price in the near term.