30th Annual Report of SRU Steels Limited for the Financial Year 2024-25
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SRU Steels Ltd has filed its 30th Annual Report for FY 2024-25, with the AGM scheduled for 25th September 2025 via video conferencing. Revenue from operations grew 38% to Rs. 2,534.37 lakhs (from Rs. 1,831.65 lakhs in FY24), but the company swung to a loss of Rs. 45.88 lakhs versus a profit of Rs. 32.35 lakhs in the prior year. The collapse in profitability is largely driven by a massive spike in purchase of stock-in-trade, which jumped from Rs. 211.10 lakhs to Rs. 3,183.37 lakhs. EPS turned negative at (0.08) versus 0.27 earlier. Key AGM agenda items include re-appointment of a director, appointment of new statutory and secretarial auditors, and increasing the FPI/FII shareholding limit to 49% of paid-up capital. The year also saw significant churn at the board and CFO level, with a new Managing Director & CFO (Vijay Sureshbhai Makvana) taking charge on 31 March 2025.
Despite top-line growth, the sharp swing into losses and the disproportionate jump in stock-in-trade purchases raise red flags about business quality and cost management. Shareholders should pay close attention to the audited financial statements and management discussion in the full report, while the proposed FPI limit increase to 49% and auditor changes warrant scrutiny at the AGM.