As per the letter attached.
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Simplex Realty reported FY25 standalone revenue from operations of ₹479.53 lakhs vs ₹176.47 lakhs last year, with total income of ₹1,259.97 lakhs helped by ₹192.42 lakhs of interest on an income-tax refund. Standalone profit after tax fell to ₹131.64 lakhs from ₹518.03 lakhs, mainly because FY24 included a one-time exceptional gain of ₹424.07 lakhs that did not repeat. Operating cash flow was sharply negative at -₹3,475 lakhs (vs -₹603 lakhs in FY24), and the company drew down fresh borrowings of ₹2,000 lakhs against nil a year ago. The statutory auditor gave an unqualified opinion on the parent results but flagged an 'Emphasis of Matter' on two associates (Simplex Mills Company Ltd and Simplex Papers Ltd) whose net worths are fully eroded, creating a going-concern uncertainty for those entities. The Board also approved a new wholly-owned subsidiary, a JV with a partner taking 49% in Simplex Modern Home Pvt Ltd, appointment of Smt. Manju Bagga as Non-Executive Director, and the resignation of Shri Praveen Kumar.
The headline PAT drop looks worse than it is due to FY24's exceptional item base effect, but the steep operating cash burn and the introduction of ₹20 crore in borrowings are real red flags for shareholders. The going-concern flag is on associates, not the parent company, so it does not affect Simplex Realty's standalone health, but it is worth watching. The new subsidiary and JV signal the company is preparing for fresh real-estate activity, which could be positive if executed well.