Audited financial result for the year ended on March 31, 2025
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Swadha Nature Limited (formerly MS Securities Ltd) reported FY25 revenue from operations of Rs 8.97 lakhs, up from Rs 4.93 lakhs in FY24, though total revenue fell to Rs 9.07 lakhs from Rs 15.77 lakhs due to lower other income. The company swung to a net loss of Rs 2.64 lakhs in FY25 versus a net profit of Rs 1.84 lakhs in FY24, with the EPS at Rs (0.06). The balance sheet shows deeply negative other equity of Rs (348.01) lakhs, though total equity remains positive at Rs 69.21 lakhs, borrowings declined sharply to Rs 23.93 lakhs, and operating cash flow turned positive at Rs 35.79 lakhs. The statutory auditor issued an unmodified opinion but resigned on May 10, 2025 citing health issues, with M/s P H Shah & Co appointed to fill the casual vacancy. The board also approved shifting the registered office from Bihar to Gujarat via postal ballot.
Shareholders should note the swing to a loss and the company's persistent negative reserves, though improved cash generation and reduced borrowings are positives. The mid-year auditor change appears health-related and the new auditor has been appointed on a clean slate, but the deeply eroded net worth remains a structural concern for the stock.