Audited Standalone Financial Results for the fourth quarter and year ended on 31st March, 2025 is enclosed.
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Steelco Gujarat reported standalone revenue from operations of Rs. 417.73 lakhs in FY25, up sharply from Rs. 30.82 lakhs in FY24, though total expenses ballooned to Rs. 2,547.68 lakhs (vs Rs. 809.90 lakhs), driven by finance costs of Rs. 737.14 lakhs and depreciation of Rs. 404.84 lakhs. The company posted a net loss of Rs. 2,053.78 lakhs for FY25, compared to a profit of Rs. 16,540.85 lakhs in FY24 which was boosted by a one-time exceptional gain of Rs. 16,986.97 lakhs linked to its approved resolution plan. Other equity eroded from Rs. 5,562.51 lakhs to Rs. 3,507.69 lakhs while borrowings rose to Rs. 9,133.81 lakhs, taking debt to over 2x equity. The auditor (M Sahu & Co.) issued an unmodified opinion but flagged an Emphasis of Matter regarding an unpaid gratuity liability of Rs. 411.60 lakhs that was due within 24 days of the resolution plan approval in July 2023.
Shareholders should note the swing to a substantial full-year loss, rising debt, and the unresolved gratuity liability which signals lingering stress from the company's CIRP/restructuring process; the stock may face pressure given weak operating profitability despite the top-line uptick.