Integrated Filing (Financials) for the fourth quarter and year ended March 31, 2025.
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Spice Islands Industries Ltd (formerly Spice Islands Apparels Ltd) reported FY25 total income of Rs. 297.87 lakhs vs Rs. 132.98 lakhs in FY24, more than doubling mainly due to a sharp jump in other income (Rs. 220 lakhs vs Rs. 43.17 lakhs). However, core revenue from operations actually declined to Rs. 77.87 lakhs from Rs. 89.81 lakhs in FY24. Net profit for the year rose to Rs. 47.73 lakhs (from Rs. 31.86 lakhs), with EPS at Rs. 1.11 vs Rs. 0.74. The company now operates three segments — EV rental, food & beverages, and hospitality — all of which generated revenue for the first time this year. The board approved allotting 19.33 lakh share warrants at Rs. 45 each, bringing in Rs. 217.50 lakhs, which helped improve negative other equity from Rs. (459.91) lakhs to Rs. (194.30) lakhs. Statutory auditor Giriraj Bang & Co. issued an unmodified (clean) opinion.
Shareholders see profit growth driven mostly by non-operating income rather than core business, while core revenue actually shrank. The company remains thinly capitalised with negative reserves, but the warrant-based capital infusion reduces that shortfall. The clean audit opinion is positive, though delayed IEPF transfers and audit-trail gaps in books are minor governance concerns.