Revised Financial Results for the Quarter and Financial Year ended on 31st March, 2025.
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Springform Technology has filed revised audited financial results for FY25 showing a sharp swing into losses. Revenue from operations jumped to Rs 55.10 lakhs from Rs 13.80 lakhs in FY24, but total expenses ballooned to Rs 111.55 lakhs, resulting in a loss before tax of Rs 97.33 lakhs and a net loss of Rs 100.52 lakhs (vs a marginal profit of Rs 0.08 lakhs in FY24). The balance sheet shrank dramatically — total assets fell from Rs 119.40 lakhs to Rs 9.98 lakhs, and shareholders' equity turned negative at Rs -2.13 lakhs, indicating the company is now in shareholder deficit. Operating cash flow was negative at Rs -45.15 lakhs. The statutory auditor (Vandana V. Dodhia & Co.) issued an unmodified opinion on the results. Alongside the results, the company appointed Mr. Paramjeet Singh Chhabra as Managing Director for five years and added two new Independent Directors (Mr. Rajiv Malik and Mr. Sanjay Kumar Garg). New internal auditor, secretarial auditor, and a new Registrar & Share Transfer Agent were also appointed.
For shareholders, the headline number is negative — the company moved from near-breakeven to a Rs 100 lakh+ loss, wiped out nearly all its assets, and slipped into negative net worth. The major board and management overhaul plus the sharp asset reduction (likely tied to a sale of business) signal a restructuring phase. The stock could see negative sentiment in the near term given the weak financial position, even though revenue technically grew.