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Awaiting price reaction for this filing.
The Board of Simplex Papers Ltd approved the audited financial results for Q4 and FY ended 31st March 2025, along with an unmodified opinion from statutory auditor Khandelwal & Mehta LLP. The Board also appointed M/s. Taher Sapatwala & Associates as Secretarial Auditor for a 5-year term, even though the company is exempt from this requirement under SEBI rules due to its small size. The 31st AGM is scheduled for 5th August 2025. Key financials are deeply distressed: the company has negative net worth of ₹(12.05) crore with accumulated losses of ₹(1,505.91) lakhs, borrowings of ₹1,244.26 lakhs against total assets of just ₹155.91 lakhs, and cash balance of only ₹1.91 lakhs. The company swung from a profit before tax of ₹11.44 lakhs in FY24 to a loss of ₹(15.98) lakhs in FY25, with operating cash outflow of ₹(15.43) lakhs. The auditor flagged an Emphasis of Matter stating that accumulated losses and fully eroded net worth indicate going concern uncertainty, though financials are still prepared on a going concern basis.
This is a deeply distressed micro-cap stock with fully eroded net worth and an explicit going concern warning from the auditor. Shareholders face significant risk of further value erosion; any recovery depends on the company's ability to revive operations, restructure debt of ₹12.44 crore, or find a strategic investor. The stock is illiquid (only ~300 shares of ₹1,000 face value outstanding) and likely not viable for retail investors.