Please find attached outcome of Board Meeting held on April 28, 2025
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The Board approved audited financial results for FY25, showing a widened net loss of ₹1,651.22 lakhs versus ₹685.92 lakhs in FY24, on total income of ₹675.46 lakhs (down from ₹820.76 lakhs). Total expenses surged to ₹2,313.41 lakhs from ₹1,501.44 lakhs, driven mainly by employee costs nearly doubling to ₹1,440.51 lakhs. Basic EPS stood at negative ₹12.69 vs negative ₹7.35. No dividend was recommended for FY25. The Board also approved granting 61,318 stock options at an exercise price of ₹435 per share under the ESOP 2022 scheme, noted continuity of G.D. Apte & Co as statutory auditors, and appointed Mr. Suhas S. Ganpule as Secretarial Auditor for five years from FY26 to FY30, subject to shareholder approval. Separately, the company recently allotted 38,88,889 equity shares to Sanlam Emerging Markets (Mauritius) at ₹270 per share, raising about ₹105 crore.
Losses have widened sharply, mainly due to higher employee and operating costs, which is a negative signal for short-term profitability; however, the ₹105 crore equity infusion from Sanlam provides a strong capital cushion for growth. No dividend and ongoing dilution via ESOPs may weigh on the stock, though the strategic investor backing supports long-term business expansion.