As per letter Attached. The Board approved appointment of Smt. Manju Bagga and noted cessation of Shri Praveen Kumar as per LIC Corporate Policy. Kindly Refer the annexure B & D respectively.
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Awaiting price reaction for this filing.
Simplex Realty's board approved audited financial results for Q4 and FY ended 31 March 2025. Standalone total income rose to ₹1,259.97 lakhs from ₹847.31 lakhs a year ago, but profit before tax fell sharply to ₹159.49 lakhs from ₹652.50 lakhs (FY24 included a ₹424.07 lakh exceptional gain). Standalone PAT dropped to ₹131.64 lakhs (EPS ₹4.40) from ₹518.03 lakhs (EPS ₹17.32), while consolidated PAT came in at ₹130.09 lakhs (EPS ₹4.35). Q4 standalone was a loss of ₹29.59 lakhs versus a profit of ₹46.58 lakhs in the previous quarter. Statutory auditors Khandelwal & Mehta LLP issued an unqualified opinion, though they flagged going-concern uncertainty at two associate companies. The board approved appointing Smt. Manju Bagga (former LIC officer) as Additional Non-Executive Director, noted the resignation of Shri Praveen Kumar (Non-Executive Director, per LIC corporate policy), approved setting up a wholly owned subsidiary 'Simplex Dream Homes Pvt Ltd' with ₹1 lakh capital, and a JV where Modern Estates India Pvt Ltd will hold 49% in Simplex Modern Home Pvt Ltd. New secretarial auditors were appointed for 5 years and the 112th AGM is set for 6 August 2025.
Sharply lower FY25 profits and a Q4 loss, despite higher revenues, point to weaker core real-estate earnings and may weigh on the stock. Positive: a fresh LIC-nominee director, a new wholly owned subsidiary, and a JV signal the company's intent to expand into new projects, which could support long-term growth.