Intimation for approval of audited Financial Results
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The Board of Directors approved the audited financial results for Q4 and full year ended March 31, 2025. Statutory auditor M/s Pawan Shubham & Company issued an unmodified (clean) opinion. Full year revenue from operations grew about 22% to Rs. 35,262.37 lakhs from Rs. 28,864.89 lakhs. Profit after tax nearly doubled to Rs. 2,932.51 lakhs from Rs. 1,478.98 lakhs, with EPS rising to Rs. 16.36 from Rs. 8.25. The company also received a Rs. 3,047.36 lakhs refund of state government duties related to its liquor segment under Uttar Pradesh's One Time Rehabilitation Policy. Q4 standalone, however, slipped into a loss of Rs. 139.98 lakhs due to a high tax charge against modest PBT. Reserves improved from negative Rs. 4,788.42 lakhs to negative Rs. 879.68 lakhs but remain in deficit. Total borrowings stood at Rs. 8,512.86 lakhs against equity of Rs. 1,060.76 lakhs, indicating a very high leverage ratio.
Strong full-year performance with doubled PAT and 22% revenue growth is positive for shareholders, though the Q4 loss and still-negative reserves and very high debt-to-equity ratio (~8x) are concerns. The state duty refund is a one-time positive boost. Investors should watch for sustained profitability improvement and deleveraging.