In continuation to our letter dated 22nd May, 2025, we wish to inform you that the Board of Directors of the Company at their meeting held today have inter-alia considered and approved ....
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 5.1 pts less than Nifty Microcap 250 and 5.0 pts less than its Diversified Commercial Services peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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The Board of Directors approved the audited financial results for the quarter and full year ended March 31, 2025. Notably, the company reported zero revenue from operations for the year, with total income of around Rs. 5,357 lakhs appearing to come entirely from other income streams. The statutory auditor, Motilal & Associates LLP, issued an unmodified (clean) opinion on the results. The document also reveals a change in statutory auditor from the previous firm, Nayan Parikh & Co, to the current Motilal & Associates LLP, with the new auditor relying on the prior auditor's reports for earlier periods. Other equity improved from a negative Rs. 54.15 lakhs to negative Rs. 20.83 lakhs, suggesting the company narrowed its accumulated losses.
The clean audit opinion is reassuring, but the complete absence of operating revenue is a major red flag for a company named 'Polymers.' Shareholders should note the auditor change and that operating cash flow turned negative in FY25, indicating the core business is not yet generating sustainable cash. Near-term stock reaction is likely muted pending clarity on actual business operations.