outcome of Board meeting
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The Board approved audited standalone financial results for Q4 and FY ended March 31, 2025. Total income jumped to Rs. 4,212.32 lakhs (vs Rs. 790.16 lakhs in FY24) and the company swung to a profit after tax of Rs. 2,037.77 lakhs from a loss of Rs. 1,011.49 lakhs in FY24. EPS for FY25 was Rs. 40.51 vs a negative Rs. 3.42 previously. Loans on the balance sheet grew to Rs. 9,505.47 lakhs (from Rs. 3,149.05 lakhs) and total assets more than tripled to Rs. 12,587.30 lakhs, supported by preferential equity raises worth over Rs. 43 crores. Statutory Auditor VR & Associates resigned effective May 30, 2025 (the resignation letter mentions no concerns about the company), and the Board reappointed PVAR & Associates as Internal Auditor and appointed Mr. Uttsav Singh as Secretarial Auditor for 5 years.
Strong turnaround in profitability and revenue is positive for shareholders, but operating cash flow remained negative at Rs. (3,029.51) lakhs, indicating profits are not yet translating into cash. The statutory auditor's resignation right after completing the FY25 audit is unusual and worth monitoring, though the auditor confirmed no concerns. Shareholders should watch for appointment of a new statutory auditor and continued improvement in cash generation.