At the meeting of Board of Directors held on 27/05/2025, the Board has approved the Audited Financial Results, Segement wise Revenue and Audit Report for the year ended 31st March, 2025.
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Shri Keshav Cements and Infra Ltd reported a sharp swing to losses for FY25, with net loss of Rs. 616.85 lakhs versus a profit of Rs. 912.51 lakhs in FY24. Revenue from operations fell to Rs. 12,145.34 lakhs from Rs. 12,644.82 lakhs, while total expenses jumped to Rs. 12,630.09 lakhs. Q4 alone saw a loss of Rs. 440.73 lakhs despite a 6.68% YoY rise in revenue. The cement segment, the company's biggest, posted lower revenue and a sharp drop in segment profit, while solar energy revenue also declined. Total borrowings rose to roughly Rs. 23,396 lakhs against equity of Rs. 9,626 lakhs, indicating a high debt burden. The statutory auditor, Singhi & Co., issued a qualified opinion due to a pending GST investigation involving an advance payment of Rs. 859.63 lakhs under protest — a qualification that has been repeating since FY22-23.
Shareholders face a clear deterioration in profitability, with the company sliding into a net loss and a qualified audit report flagging unresolved GST liabilities. The high debt-to-equity ratio (about 2.4x) combined with very low cash balances raises concern about financial flexibility, which could weigh on the stock in the near term.