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Source Industries (India) Ltd filed its 41st Annual Report for FY 2024-25 with BSE, along with the notice for its AGM scheduled on 27th September 2025 via video conferencing. The company's revenue more than doubled to Rs 13.72 lakhs (from Rs 6.57 lakhs in FY24) and it swung to a small profit of Rs 0.78 lakhs after two consecutive loss years. The AGM notice seeks shareholder approval for a major strategic shift: adding railway infrastructure, metro rail, defence technology, and homeland security to its objects clause, effectively pivoting from textiles. Key appointments include Sudhir Reddy Posireddy as Chairman & MD (holds 26.15% stake), Naraharisetty Mohan Krishna and Ramreddy Swathi as Whole-Time Directors. New statutory auditors M/s PRSV & Co. LLP replace the resigning M/s M N Rao & Associates. Shareholders will also vote on raising borrowing limits to Rs 100 crore and creating charges on company assets.
The results show the company is just emerging from a prolonged loss-making phase with very small revenues, so financials remain weak despite the turnaround. However, the proposed pivot into railway and defence sectors and the sharp jump in authorised borrowings (to Rs 100 crore versus Rs 13.72 lakhs revenue) signals ambitious expansion plans that will be closely watched by investors. The new management team was only appointed on 28 July 2025, so shareholders should evaluate execution capability at the AGM on 27 September 2025.