Submission of Financials for the quarter and year ended march, 2025
Awaiting price reaction for this filing.
S R Industries Limited (SRIND, BSE: 513515) submitted its audited FY25 results. The company, which recently emerged from the Corporate Insolvency Resolution Process (CIRP) with Bazel International Limited as the successful resolution applicant (approved July 1, 2024), reported zero revenue from operations for the year. Total income was just Rs 0.84 lakh versus Rs 15.48 lakh in FY24. Total expenses surged to Rs 87.47 lakh (from Rs 25.49 lakh), driven by employee costs and other expenses. Net loss widened sharply to Rs 86.64 lakh (FY24: Rs 10.01 lakh), translating to an EPS of negative Rs 0.44. On the balance sheet, total equity turned positive at Rs 1,207.24 lakh (from negative Rs 3,252.62 lakh), and total liabilities fell sharply to Rs 158.09 lakh from Rs 5,325.65 lakh after CIRP restructuring, supported by Rs 1,170 lakh of fresh share capital infusion. The auditor (Krishan Rakesh & Co.) issued an unmodified/unqualified opinion.
Positive: balance sheet was drastically cleaned up post-CIRP, with equity restored and borrowings reduced to near-zero. Negative: the company still has no operating revenue and continues to post losses, so this remains a turnaround/restructuring story rather than a profitable business. Equity dilution of Rs 11.7 crore warrants attention; shareholders should watch for restart of actual operations.