We wish to inform you that the Board of Directors of the Company at its meeting held today has inter alia 1) Approved the Audited Financial Statements for the Year ended 31st March,2025 ....
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Southern Latex Limited has reported audited financial results for the quarter and year ended March 31, 2025. The most striking feature is that the company has reported NIL revenue from operations — there were no sales from its core coir business during the year. Total income of Rs. 53.90 lakhs (down slightly from Rs. 55.25 lakhs in FY24) came entirely from 'Other Income', likely interest on deposits and loans. Profit after tax was Rs. 23.15 lakhs versus Rs. 23.50 lakhs in the previous year, with basic EPS of Rs. 0.315. Total expenses stood at Rs. 26.47 lakhs, mostly employee costs and other overheads. The statutory auditors (Balaji & Thulasiraman) issued an unmodified opinion but the report includes an Emphasis of Matter paragraph. The balance sheet shows other equity still in negative territory at Rs. -58.77 lakhs (improved from Rs. -81.92 lakhs), while operating cash flow remained negative at Rs. -22.46 lakhs.
The company is essentially dormant on the operations side — zero revenue from its coir business with profitability sustained only by interest income on deposits. Negative other equity and negative operating cash flow raise serious going-concern questions for shareholders, despite the clean audit opinion.