Audited Standalone Financial Results And Audited Standalone Financial Statements along with Auditor''s Report of the Company for the quarter and year ended March 31, 2025
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SRU Steels reported FY25 revenue from operations of Rs. 2,534.37 lakhs, up about 38% from Rs. 1,831.65 lakhs in FY24, but swung to a loss of Rs. 45.88 lakhs versus a profit of Rs. 32.35 lakhs last year. Q4 FY25 alone posted a profit of Rs. 63.39 lakhs on revenue of Rs. 1,585.98 lakhs, recovering from a Rs. 50.16 lakh loss in Q3. The company raised Rs. 4,749.75 lakhs through a rights issue during the year, expanding equity to Rs. 5,993.93 lakhs. Operating cash flow was sharply negative at Rs. (3,873.65) lakhs, with cash boosted mainly by the rights issue. The statutory auditor issued an unmodified opinion but flagged an Emphasis of Matter covering use of rights issue proceeds for advances and investments, unrecorded interest on unsecured loans taken and advances given, and pending reconciliations of receivables, payables, and loan balances.
Top-line growth is healthy, but profitability and cash generation are worrying — the company moved into losses and burned through substantial operating cash. Shareholders should weigh the strong revenue trajectory against governance red flags raised by the auditor on loan accounting and pending reconciliations.