Submission of revised Audited Financial Results for the quarter and year ended on 31st march, 2025
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Shyamkamal Investments Ltd has refiled its audited results for Q4 and FY25 after the stock exchange flagged discrepancies in the earlier submission. The auditor, Mukeshkumar Jain & Co., issued a qualified opinion citing two issues: the absence of an audit trail as the company migrates to a new ERP, and an unconfirmed ₹80 lakh receivable from a joint-venture partner in a share-trading arrangement. Reported FY25 numbers show a sharp turnaround — total income jumped to ₹186.32 lakh from just ₹1.08 lakh in FY24, with net profit of ₹50.32 lakh against a ₹21.06 lakh loss previously. However, if the auditor's qualifications are adjusted for, the company would swing to a net loss of ₹29.65 lakh and EPS would turn negative at ₹(0.22). The debt-to-equity ratio has worsened sharply to 1.61x from 0.09x, and the current ratio has slipped to a weak 0.23, signalling liquidity strain.
Shareholders should note that the headline profit of ₹50.32 lakh may overstate true performance, as adjusted figures show a loss. The qualified opinion, repeated from the prior year, plus a sharp rise in leverage and weak current ratio point to earnings quality and liquidity concerns that could weigh on the stock.