This is to inform you that the Board of Directors of the Company at its meeting held on Thursday, 8th May, 2025 commenced at 11 a.m. and concluded at 12.50 p.m. has transacted the following business: ....
Awaiting price reaction for this filing.
Classic Filaments Limited reported zero revenue from operations for both Q4 FY25 and the full financial year FY25, same as FY24. The company posted a net loss of Rs. 2.33 lakhs in Q4 and Rs. 10.96 lakhs for the full year (vs Rs. 9.98 lakhs loss in FY24). Total expenses stood at Rs. 10.96 lakhs for the year, entirely made up of employee costs and other expenses. Other equity is in the red at negative Rs. 43.35 lakhs, and cash has sharply fallen from Rs. 70.89 lakhs to Rs. 3.71 lakhs, with negative operating cash flow of Rs. 67.18 lakhs. The statutory auditor issued an unmodified opinion but flagged an Income Tax show-cause notice under Section 263 for FY 2018-19 as an emphasis of matter. The board also appointed a new secretarial auditor and internal auditor for FY26.
With zero revenue, widening cash burn, and negative reserves, the company appears to have no active business operations, raising serious going-concern questions for shareholders. The stock is likely a penny, illiquid name, and this filing should be treated as a high-risk situation.