Audited financials results for the year ended 31.03.2024
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Unipro Technologies reported essentially zero revenue from operations for FY24, with total expenses ballooning to ₹259.27 lakhs versus ₹11.63 lakhs in FY23, mainly due to a sharp jump in 'Other Expenses' to ₹256.61 lakhs. This drove the net loss to ₹259.27 lakhs (vs ₹11.63 lakhs in FY23), translating to a loss per share of ₹4.26 (vs ₹0.19). The balance sheet shows negative shareholders' equity of ₹(54.19) lakhs, with accumulated losses deepening to ₹(662.68) lakhs, and cash & cash equivalents at a near-zero ₹0.14 lakhs. The company also carries ₹88.40 lakhs in borrowings and ₹321.18 lakhs in trade receivables, but no operating revenue or cash generation to support them. The auditor (V Ravi & Co.) issued an unqualified opinion.
This is a deeply concerning result for shareholders — the company has effectively no revenue, mounting losses, negative book value, and almost no cash, raising serious questions about its ability to continue as a going concern. The stock is likely to face significant selling pressure and heightened risk perception among investors.