- Approved and adopted Audited Financial Results of the Company for the Quarter and Financial Year ended 31st March, 2025 under Indian AS (statement) as recommended by the Audit Committee. ....
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The Board approved the audited financial results for the quarter and year ended 31st March 2025, which show the company swung to a net profit of Rs. 81.66 lakhs for FY25 compared to a loss of Rs. (5.00) lakhs in FY24. Total income rose sharply to Rs. 136.34 lakhs from Rs. 52.45 lakhs, though the company reported zero revenue from operations as it is only engaged in steel product trading with no active operations. The profit appears largely driven by one-time items including income tax refunds of Rs. 37.36 lakhs and interest on income tax refunds of Rs. 97.23 lakhs. Auditor V. Singhi & Associates issued an unmodified opinion. The Board also recommended re-appointment of Mr. Pradip Bhar (Director retiring by rotation), re-appointment of Ms. Kavita Biyani as Independent Director for a second 5-year term, and appointment of R.N. Shah & Associates as Secretarial Auditors and Scrutiniser.
The turnaround to profitability is positive on paper but is driven mainly by non-recurring tax refund inflows rather than core business operations, so shareholders should view this cautiously. With no operating revenue, the stock remains fundamentally a non-operating entity whose value depends on its investments and reserves. No immediate price-moving catalyst is evident.