Pursuant to Regulation 30 and 33 of the Securities and Exchange Board of India (Listing Obligations & Disclosure Requirements) Regulations, 2015 ("Listing Regulations"), read with Schedule ....
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Terraform Magnum's board approved audited results for Q4 and FY ending March 31, 2025. Revenue from operations was virtually nil at ₹0.18 lakh for the full year, down sharply from ₹0.66 lakh in FY24. The company reported a net loss of ₹8.54 lakhs (vs ₹8.58 lakhs loss last year), with EPS of ₹(3.56). Most strikingly, total equity is deeply negative at ₹(1,830.80) lakhs against total borrowings of ₹3,051.03 lakhs. The statutory auditor issued an unmodified opinion but flagged two emphasis-of-matter issues: significant uncertainty over a Kandivali property transaction with payment defaults, and the use of going concern basis despite negative net worth. The board appointed Mrs. Renuka Gautam and Mr. Vineet Mishra as new Independent Directors for 5-year terms, and Dholakia & Associates LLP as Secretarial Auditor for 5 years. The 43rd AGM originally scheduled for June 26, 2025 has been postponed.
Multiple red flags for shareholders: recurring losses, near-zero revenue, deeply negative net worth, and auditor-emphasized going concern uncertainty create serious solvency concerns. The undisclosed AGM postponement adds governance uncertainty. Stock is likely to remain illiquid and speculative.