ENCLOSED HEREWITH FINANCIAL RESULT FOR YEAR ENDED 31/05/2025
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Awaiting price reaction for this filing.
Suncity Synthetics reported a sharp deterioration in FY25 results. Net sales fell about 42% to Rs. 116.93 lacs from Rs. 200.10 lacs in FY24, and the company swung to a loss with EPS of Rs. -1.14 (vs Rs. 0.26 profit per share in FY24). Profit before exceptional item and tax turned negative at Rs. -23.24 lacs versus a profit of Rs. 47.68 lacs in the prior year. The balance sheet shows serious net worth erosion, with 'other equity' slipping into the red at Rs. -542.86 lacs (vs Rs. 486.42 lacs) and total assets shrinking from Rs. 554.64 lacs to Rs. 209.01 lacs. The statutory auditor (S. Gandhi & Associates) issued an unmodified (clean) opinion but noted that the company incurred cash losses during the year. Related party transactions were disclosed, mainly unsecured loans to the company from directors and director sitting fees. No defaults exist on loans or debt securities.
Shareholders should be concerned about the steep revenue drop, the swing to losses, and the negative reserves which point to significant balance sheet stress. Despite the clean audit opinion, the sharp erosion in net worth and cash losses suggest the stock may remain under pressure and fundamentals warrant close scrutiny.