Outcome of the Board Meeting held today and Financial Results for March 2025
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The board, meeting on 28 May 2025, approved the audited standalone financial results for the quarter and year ended 31 March 2025. The company posted zero revenue from operations for FY25, with total income of ₹35.36 lakhs (vs ₹24.85 lakhs in FY24) coming entirely from other income. Total expenses surged to ₹48.04 lakhs (vs ₹14.50 lakhs), pushing the company into a full-year loss of ₹12.68 lakhs compared to a profit of ₹7.74 lakhs in FY24. EPS swung from ₹0.19 to a negative ₹0.30. Cash flow from operations was deeply negative at ₹(110.38) lakhs, and closing cash dropped to ₹3.30 lakhs from ₹76.27 lakhs. Statutory auditor Milind Nyati & Co. issued an unmodified (unqualified) opinion, and the board also appointed Samantrai Prashant & Co. as secretarial auditor (FY25) and Goel & Goyal as internal auditor (FY26).
Negative for shareholders — the company slipped into a full-year loss despite higher other income, and operating cash burn is severe with cash reserves nearly depleted. The unmodified audit opinion is a positive, but the weak earnings and cash position are red flags for this small-cap oil extraction company.