With reference to above captioned subject, we wish to inform you that the Board of Directors at their meeting held today has approved and took on record the following matters: 1. Approval ....
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The Board of Skyline Millars Ltd approved the audited financial results for Q4 and FY ended 31st March 2025, along with the Board's Report and notice for the 105th AGM. Revenue from operations jumped sharply to Rs. 268.64 lakhs in FY25 from Rs. 46.35 lakhs in FY24, driven by construction work commencing at the Karjat property ('F-wing'). Total loss for FY25 narrowed significantly to Rs. 26.12 lakhs from Rs. 99.36 lakhs in FY24, though the company still posted a net loss. The company also appointed M/s P Mehta & Associates as secretarial auditors for a 5-year term. The statutory auditor S G D G & Associates LLP issued an unmodified opinion on the financial results. The Ghatkopar project remains stalled since 2011 due to a pending Supreme Court matter.
Strong revenue rebound from a low base and a 74% reduction in annual loss are positives, but the company is still loss-making at the bottom line and reported negative operating cash flow of Rs. 125.80 lakhs, suggesting weak core cash generation. The Ghatkopar legal overhang continues to cap the growth story. Stock may react to the loss-narrowing news but underlying profitability and cash flow concerns remain for shareholders.