results-financial results for March 31, 2025
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Thirani Projects reported audited results for FY25 with total income of ₹85.57 lakhs vs ₹83.17 lakhs in FY24, a modest ~3% growth. The company swung to a profit after tax of ₹74.72 lakhs in FY25, compared to a loss of ₹637.76 lakhs in FY24, which had been hit by a one-time ₹545.92 lakh loss on sale of securities and a ₹128.80 lakh provision for doubtful debts. Q4 FY25 PAT was ₹51.42 lakhs vs a loss of ₹664.31 lakhs in Q4 FY24. EPS for the year stood at ₹0.37 vs ₹(3.16). The board did not declare any dividend for FY25. The auditor (R.K. Kankaria & Co.) issued an unmodified opinion, and new internal and secretarial auditors were appointed for FY26 onwards.
The return to profitability is a positive turnaround signal, but other equity remains negative at ₹(774.86) lakhs and operating cash flow was negative at ₹(11.32) lakhs, indicating the company is not yet generating cash from its core business. No dividend was declared. Shareholders should weigh the headline profit swing (driven mainly by absence of last year's large one-time losses) against the still-weak balance sheet and negative operating cash flow.