Outcome of Board Meeting held on 29th May, 2025
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Texel Industries' board approved audited financial results for Q4 and full year FY25, with statutory auditors Sunil Poddar & Co. issuing an unmodified opinion. Standalone revenue from operations rose to Rs 11,570.83 lakhs (FY25) from Rs 9,489.35 lakhs (FY24), a growth of about 22%. The company swung to a standalone profit after tax of Rs 488.51 lakhs versus a loss of Rs 841.11 lakhs in FY24, with FY25 EPS at Rs 4.62. A new 'Land, Building & Property Development' segment contributed Rs 707.81 lakhs in revenue and Rs 534.85 lakhs in profit, while a preferential equity issue of 49.67 lakh shares at Rs 38.25 raised around Rs 19 crore. The auditor flagged an Emphasis of Matter on (a) the wholly-owned Africa subsidiary whose net worth is fully eroded, and (b) subsidy receivables of Rs 409.36 lakhs under Textile Policy 2019 awaiting sanction.
The strong revenue growth and turnaround to profit are positive signals for shareholders, though cash flow from operations remains negative and the Africa subsidiary's fully eroded net worth is a key risk to watch. Investors should monitor whether the subsidy claim is realized and how the loss-making Africa arm is resolved.