Outcome of the Board Meeting held on May 28, 2025

Shristi Infrastructure has reported its audited results for FY25 with a standalone net loss of Rs. 1,001.33 lakhs (vs Rs. 1,839.53 lakhs loss last year) and a consolidated net loss of Rs. 1,521.97 lakhs. Revenue from operations fell to Rs. 8,712 lakhs from Rs. 10,126 lakhs the previous year. The auditor issued a qualified opinion, flagging that the company wrote back Rs. 4,738 lakhs of unpaid interest liabilities from SREI borrowings and did not provide for Rs. 2,572 lakhs of interest for the year (cumulative non-provision of Rs. 9,890 lakhs). If properly accounted, the standalone net loss would have ballooned to Rs. 3,574 lakhs. The auditor also raised a going concern warning as the company has posted losses for three consecutive years and its net worth is fully eroded (standalone negative Rs. 5,695 lakhs, consolidated negative Rs. 13,014 lakhs). Major contingent risks include a Rs. 76,100 lakh arbitration award against the company, corporate guarantees of Rs. 72,522 lakhs for Sarga Hotel and Rs. 25,356 lakhs for Suasth Health Care, and a subsidiary under insolvency proceedings.