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SVS Ventures reported FY25 revenue from operations of just Rs. 7.64 lakhs, a sharp drop from Rs. 143.23 lakhs in FY24. Profit after tax stood at Rs. 7.56 lakhs versus Rs. 8.33 lakhs last year. The statutory auditor (J M Patel & Bros) issued an unmodified opinion, but flagged multiple serious concerns in Annexure-1: the company has no operating income from its main infrastructure business, is treating construction material as work-in-progress stock (inflated by Rs. 40.50 lakhs without physical verification), has short-term loans of Rs. 1,621.71 lakhs given to nine related parties in violation of Sections 177, 185, 186, 188, 189 of the Companies Act, and has Rs. 933.40 lakhs invested in three related parties from public issue funds with no income or recovery so far. The auditor also noted non-payment of income tax dues (Rs. 10.84 lakhs), old outstanding debtors of Rs. 69.21 lakhs, and lack of audit trail compliance.