Ujaas Energy Limited has informed the Exchange regarding Board meeting held on May 28, 2025.
UEL · price
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The board approved the audited standalone financial results for Q4 and FY ended March 31, 2025, which carried a qualified opinion from the statutory auditor. FY25 revenue from operations stood at Rs. 2,693.51 lakhs, marginally higher than Rs. 2,672.64 lakhs in FY24. The company reported a net profit of Rs. 885.04 lakhs for FY25, sharply lower than Rs. 2,895.57 lakhs in FY24 (which included large one-time exceptional gains of Rs. 2,891.65 lakhs from the NCLT resolution plan). Q4 FY25 swung back to a small profit of Rs. 30.41 lakhs versus a loss of Rs. 414.44 lakhs in Q4 FY24. The auditor flagged two qualifications: (1) unconfirmed trade receivables of Rs. 2,874.88 lakhs and (2) accrued interest of Rs. 25.81 lakhs on Axis Bank fixed deposits not credited by the bank. An emphasis of matter was raised on Rs. 3,546.07 lakhs still outstanding with SBI and Axis Bank despite the NCLT-approved resolution plan. The board also appointed a new internal auditor (S.K. Malani & Co.) and secretarial auditor (Ashish Karodia & Co. for five years), and approved the sale of a vacant shed in Indore with no business value. Outstanding qualified borrowings are reported as NIL for FY25.
The qualified opinion and large unconfirmed receivables (~Rs. 28.75 crore) raise concerns about asset quality and recovery, which shareholders should monitor. The sharp drop in FY25 PAT versus FY24 is largely due to the absence of last year's one-time resolution-plan gains, so the underlying business may be more stable than the headline suggests. No fresh qualified borrowings and no going-concern flag are mildly positive, but the persistent bank-side reconciliation issue with SBI/Axis Bank remains a lingering overhang.