Results For The Financial Year Ended March 31, 2025
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Sprayking Limited reported strong top-line growth for FY25 but with notable margin compression. Consolidated revenue from operations rose to Rs. 127.77 crore from Rs. 101.66 crore (up ~25.7% YoY), while standalone revenue from operations jumped to Rs. 61.95 crore from Rs. 31.14 crore (nearly doubled). However, consolidated profit before tax fell to Rs. 9.63 crore from Rs. 12.43 crore (-22.5%), and net profit declined to Rs. 7.28 crore from Rs. 8.92 crore (-18.4%). Standalone PAT slipped to Rs. 2.21 crore from Rs. 2.69 crore. Both standalone and consolidated operating cash flows turned negative (Rs. -5.43 crore and Rs. -6.84 crore respectively), driven by higher working capital needs. Short-term borrowings on a consolidated basis rose sharply to Rs. 44.39 crore from Rs. 29.63 crore. The statutory auditor issued an unmodified opinion, and a new internal auditor (M/s. Shreyash C. Sheth & Associates) was appointed for FY26-27.
Positive revenue momentum is offset by weaker profitability, negative operating cash flows, and rising debt, which could weigh on stock sentiment despite the clean audit opinion. Investors should watch working capital and debt levels closely in coming quarters.