Attached herewith the Annual Report of Thakkers Group Ltd for FY 2024-25
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Thakkers Group Ltd (formerly Asian Food Products Ltd) filed its 57th Annual Report for FY 2024-25. The company reported income of ₹2,245.15 lakhs, more than 2.5x the ₹876.78 lakhs in FY 2023-24. Profit Before Tax rose to ₹911.90 lakhs (from ₹503.73 lakhs), and Profit After Tax doubled to ₹783.10 lakhs (from ₹390.33 lakhs). No dividend was declared as the company is conserving resources. The statutory auditor issued an unqualified opinion, and the secretarial audit had no qualifications. The company operates in real estate, hospitality, and construction, with projects in Nashik, Mumbai (Worli), Alibaug, Nagpur, and Vadodara. Shareholders will be asked to approve three new Independent Directors and to raise the borrowing limit to ₹500 crores under Section 180(1)(c). Material related party transactions in the form of Inter-Corporate Deposits (ICDs) with promoter-related entities were disclosed.
Strong operational performance with revenue and profits both more than doubling year-on-year, reflecting a rebound after the BSE re-listing in Q4 FY24. The move to seek a ₹500 crore borrowing limit signals expansion plans, which could support growth but also raise leverage. No dividend means shareholders rely on price appreciation for returns.