Please Find enclosed herewith Outcome of the Board Meeting Dated 29th May, 2025
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The board approved audited standalone financial results for the quarter and year ended March 31, 2025, along with several management changes. FY25 revenue from operations rose to Rs 785.28 lacs from Rs 719.59 lacs the previous year, with full-year profit after tax climbing to Rs 11.26 lacs versus Rs 8.39 lacs. However, the standalone Q4 result swung to a Rs 18.23 lac loss, wider than the Rs 14.07 lac loss in the year-ago quarter. The auditor (R K Bhalla & Co.) issued an unmodified opinion but flagged three emphasis-of-matter items, notably that interest income on group company loans (~Rs 6.55 lacs) and interest expense on group/KMP borrowings (~Rs 7.35 lacs) at 9.25% per annum were not recorded in the books. Cash flow from operations turned negative at Rs 21.77 lacs versus a positive Rs 90.22 lacs last year. Separately, Mr. Harish Rawat resigned as Director and CFO citing personal reasons, Mr. Ashish Khanna was appointed as the new CFO, and Ms. Sonia Vaid joined as an Independent Director for a five-year term.
Annual profit improved year-on-year, but the loss-making Q4, the swing to negative operating cash flow, and the auditor flagging related-party interest not being booked in the books are governance concerns retail investors should watch closely. The CFO change and the Khanna family holding both executive and non-executive roles may also raise board-independence questions.