Outcome of Board Meeting held on Tuesday, May 20, 2025
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Trescon Ltd's board, on May 20, 2025, approved audited standalone and consolidated financial results for Q4 and FY ended March 31, 2025. Standalone revenue from operations jumped to Rs. 934.88 lakhs (vs nil in FY24), driving total revenue up ~230% to Rs. 1,526.06 lakhs, but the company slipped into a loss with a standalone PAT of Rs. (28.71) lakhs versus a profit of Rs. 141.82 lakhs last year, and a consolidated net loss of Rs. (263.54) lakhs. The statutory auditor gave an unmodified opinion on standalone results but a qualified opinion on consolidated results because land valuation reports were missing for subsidiaries Golden Arc LLP and Triveni Associates acquired during the year. The board also approved forfeiture of 13,86,600 partly paid-up shares for unpaid call money and conversion of 9,00,000 partly paid-up shares (bringing in Rs. 67.50 lakhs), appointed AVS & Associates as Secretarial Auditors for 5 years, and re-appointed Bhagat Ajay & Co as Internal Auditors for FY26.
Shareholders should note the turnaround in revenue is offset by a swing to losses at both standalone and consolidated levels, negative operating cash flows, and a qualified audit opinion on consolidated numbers due to missing land valuations at newly acquired subsidiaries, which may weigh on investor confidence despite the share conversion bringing in fresh capital.