Shree Ram Proteins Limited has informed the Exchange about Addendum of Annual Report 2024-25
Awaiting price reaction for this filing.
Shree Ram Proteins Limited has filed a corrigendum to its 17th AGM notice (scheduled for March 5, 2026) correcting Item No. 2 regarding the reappointment of Mr. Ravindra Kumar Singh and Mr. Piyush Vasoya, and an addendum to include the Secretarial Audit Report for FY 2024-25. The underlying Annual Report reveals alarming financials: revenue from operations dropped 100% to zero (from Rs. 16,268.37 lakhs in the prior year), resulting in a loss after tax of Rs. 2,107.51 lakhs versus Rs. 958.48 lakhs previously. The company has outstanding deposits of Rs. 630.22 lakhs with non-compliance under Sections 73-76 of the Companies Act, unpaid income tax of Rs. 223.01 lakhs and Rs. 64.34 lakhs, and auditor qualifications on weak internal controls. The company had faced CIRP proceedings in January 2023 (since set aside). It plans a rights issue of up to Rs. 49 crore and preferential allotment of up to 5 crore shares.
The corrigendum is procedural, but the financial disclosures are deeply concerning — zero revenue, deepening losses, insolvency history, and non-compliance with deposit regulations signal serious operational distress. Shareholders face a high-risk situation despite plans to raise capital through rights issue and preferential allotment.