Outcome of Board Meeting for approval of Audited Standalone Financial Results of the Company for the Quarter and Year ended on 31st March, 2025
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The board approved audited standalone results for FY25. Revenue from operations collapsed to Rs 1,331 lakhs from Rs 2,529 lakhs in FY24, a drop of nearly 47%. The company swung from a Rs 11,215 lakh profit last year (boosted by a one-time exceptional gain of Rs 11,228 lakhs) to a net loss of Rs 1,437 lakhs this year, translating to a loss per share of Rs 5.13. Reserves are now negative at Rs (2,887) lakhs and total equity has turned negative at Rs (86) lakhs. Cash from operations also turned negative at Rs (405) lakhs versus a Rs 5,496 lakh inflow last year. The auditor issued an unmodified opinion but flagged a material uncertainty on going concern, noting that current liabilities (Rs 1,562 lakhs) are far higher than current assets (Rs 282 lakhs), and highlighted the Pre-package Insolvency Resolution Process, whose approved plan was upheld by NCLAT on 10 February 2025.
This is a financially distressed company: shrinking top line, negative equity, negative operating cash flow and an explicit going-concern warning from the auditor. Shareholders face continued risk; near-term performance is likely to depend on monetising non-current assets held for sale (Rs 141 lakhs as at March 2025) and operational turnaround.