OUTCOME OF BOARD MEETING HELD ON 29-05-2025
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The board approved audited standalone financial results for Q4 and full-year FY25. The company reported zero revenue from operations for the entire year, with total income of just Rs. 25.40 lakhs coming entirely from 'other income' — specifically old creditor balances written back as no longer payable. Annual net loss narrowed sharply to Rs. 0.17 lakhs from Rs. 33.60 lakhs in FY24, and Q4 FY25 swung to a small profit of Rs. 6.72 lakhs versus a loss of Rs. 26.86 lakhs a year ago. The balance sheet shows deeply negative other equity of Rs. (1,083.24) lakhs against share capital of Rs. 830.03 lakhs, meaning net worth is fully eroded. Cash flow from operations was negative at Rs. (18.30) lakhs, with the company relying on fresh borrowings of Rs. 29.58 lakhs to stay afloat. The board also appointed Payal Tachak & Associates as Secretarial Auditor and Vishal Chavda as Internal Auditor.
This is a serious red flag for shareholders — the core manufacturing business has zero operational revenue, net worth is wiped out, and operations are being funded by debt. Despite the much smaller loss, the company's financial position remains precarious and raises going-concern doubts. Investors should treat this stock as high-risk.