Outcome of the Board Meeting held on Wednesday, May 28, 2025, in terms of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
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The Board approved audited IND-AS financial results for Q4 FY25 and full year ended March 31, 2025. Notably, Revenue from Operations stood at zero across all periods, with the company earning only 'Other Income' of Rs. 25.36 lakh (down from Rs. 45.07 lakh in FY24), entirely from interest on loans. The company swung to a net loss of Rs. 12.67 lakh for FY25 versus a profit of Rs. 2.30 lakh in FY24, though Q4 FY25 alone posted a small profit of Rs. 5.02 lakh. Other Equity remains deeply negative at Rs. (2,573.39) lakh, reflecting huge accumulated losses. The auditor (M/s V.S. Gupta & Co.) issued an unmodified opinion but flagged an Emphasis of Matter regarding the wound-up foreign subsidiary (Sybly International FZE) and an unrecoverable loan of Rs. 32.21 crore provisioned in earlier years. The company also appointed M/s Karan Mittal & Co. as Internal Auditor for FY26.
Shareholders should note that the core business generates no operating revenue, profitability is entirely dependent on interest income from loans (including a significant Rs. 8.34 crore exposure to Victory Software Pvt. Ltd.), and accumulated losses continue to erode net worth. The negative operating cash flow of Rs. (142.49) lakh and fresh borrowings of Rs. 113.65 lakh suggest reliance on external support, which is a negative signal despite the clean audit opinion.