Pursuant to Regulation 30 of SEBI (LODR) Regulations, 2015 we hereby inform the outcome of the board meeting along with the audited financial results.
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Springform Technology's board, at its 12th May 2025 meeting, approved audited financial results for Q4 and FY ended 31 March 2025. The company swung to a loss of about Rs. 100.52 lakhs for FY25, compared with a marginal profit of Rs. 0.08 lakh in FY24. Total income for FY25 stood at Rs. 56.83 lakhs against total expenses of Rs. 111.55 lakhs, with employee costs (Rs. 54.40 lakhs) and other expenses (Rs. 46.46 lakhs) being the major drag. The board also redesignated Mr. Paramjeet Singh Chhabra as Managing Director and appointed two new non-executive independent directors (Mr. Rajiv Malik and Mr. Sanjay Kumar Garg). Additionally, new internal auditor, secretarial auditor, and registrar (Skyline Financial Services) were appointed. The statutory auditor, M/s Vandana V. Dodhia & Co., issued an unmodified (clean) opinion on the results.
Negative – the company reported a full-year loss, with expenses nearly double its income, raising concerns about operational sustainability. The management change and new auditor/registrar appointments may signal restructuring, but shareholders should watch for signs of revenue recovery and cost control in coming quarters.