Results for the year ended 31.03.2023
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Awaiting price reaction for this filing.
Unipro Technologies Ltd, a small IT and software services company (BSE: UPROTECH), filed its audited annual results for FY23. Revenue from operations was negligible at around Rs 0.03 crore, with the company posting a net loss of Rs 11.63 lakhs, narrowing from a Rs 20.09 lakhs loss in FY22. Total expenses stood at Rs 11.63 lakhs, mainly employee costs and other expenses. The balance sheet shows total equity of Rs 205.07 lakhs but with deeply negative other equity of Rs (403.42) lakhs, indicating accumulated losses. Cash and equivalents dropped sharply to just Rs 0.14 lakhs from Rs 4.24 lakhs, while trade payables remain high at Rs 193.06 lakhs. Auditor V. Ravi & Co. issued a clean, unqualified opinion.
Persistent losses, near-zero revenue, and dwindling cash reserves raise serious concerns about the company's operational viability, despite a narrower annual loss. Shareholders should view this as a high-risk, struggling micro-cap with no visible path to profitability.