Board approved the audited financial results for the quarter and year ended 31/03/2025
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Thakral Services India reported audited FY25 results with revenue from operations crashing to just Rs. 51.35 lakhs from Rs. 2,452.66 lakhs in FY24, a roughly 98% year-on-year decline, since the company's business was transferred to Thakral Innovation Pvt Ltd from October 1, 2023. Net loss narrowed sharply to Rs. 25.31 lakhs (from Rs. 351.65 lakhs loss in FY24), with EPS at minus Rs. 0.22. The company's net worth is fully eroded at negative Rs. 916.11 lakhs with accumulated losses of Rs. 1,268.16 lakhs. The statutory auditor issued a qualified opinion citing two issues: an EPFO recovery order of Rs. 60.36 lakhs where no provision was made, and interest-free loans of Rs. 833.66 lakhs not accounted as per Ind AS 109. The auditor also flagged a material going concern uncertainty, though management cited shareholder support letters to justify the going concern assumption. Operating cash flow was negative at Rs. 36.24 lakhs.
This is a deeply concerning filing for shareholders. The business has effectively wound down after the transfer to a group entity, revenue has collapsed, net worth is fully eroded, and the auditor has flagged both a qualified opinion and going concern uncertainty. Existing investors face a high-risk, low-activity shell with contingent liabilities; the stock is likely to remain thinly traded and face continued valuation pressure.