Appointment of Mr. Ritul Parmar, Practising Company Secretary (FCS No.: 13125 CP No: 14845), as the Secretarial Auditors of the Company for a term of five years commencing from Financial ....
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Starlog Enterprises reported FY25 audited results showing a swing to profit, driven mainly by one-time exceptional items. Standalone revenue from operations grew modestly to ₹1,199.16 lakhs (vs ₹1,141.45 lakhs in FY24), but profit before tax of ₹2,706.37 lakhs versus a loss of ₹96.24 lakhs last year was almost entirely due to exceptional items of ₹2,887.26 lakhs, including profits from sale of land and machinery, write-back of GST interest provisions, and one-time settlements on borrowings. Without these one-offs, the company would have posted a pre-tax loss of ₹180.89 lakhs, and Q4 standalone PAT was just ₹20.35 lakhs versus ₹396.73 lakhs in Q4 FY24. Consolidated FY25 PAT was ₹2,607.61 lakhs (EPS ₹21.86) versus a loss of ₹270.14 lakhs. The board also appointed Bhattacharya Das and Co. as new statutory auditors for 5 years and Mr. Ritul Parmar as secretarial auditor for 5 years, subject to shareholder approval. The 41st AGM is set for June 12, 2025.
The headline profit recovery is largely accounting-driven (asset sales and write-backs) rather than from core operations, which still ran at a loss before exceptional items. Shareholders should weigh this before assuming earnings momentum. Meanwhile, the auditor flagged several lingering concerns, including a ₹6,627.20 lakh shortfall undertaking on a subsidiary that is sub-judice and a disputed 26% investment in South West Port Ltd, which could create future uncertainty despite the clean audit opinion.