Outcome of Board Meeting held on 31.03.2025
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
The Board of Directors approved the audited financial results for the quarter and year ended March 31, 2025. The company posted a total revenue of Rs. 37.07 lakhs for FY25, up about 83% from Rs. 20.31 lakhs in FY24, driven mainly by a jump in other income. Net profit for FY25 came in at Rs. 14.11 lakhs (EPS Rs. 1.13) compared to a small loss of Rs. 0.49 lakhs in FY24. Total assets stood at Rs. 1,891.55 lakhs and net worth at Rs. 191.37 lakhs. However, the auditor (R.K. Chandak & Co.) issued a Qualified Opinion with a modified audit report, flagging three issues: unlisted equity investments shown at cost without fair value assessment or provision for diminution, old loans and advances pending confirmation with no provision for doubtful debts, and non-provision of gratuity under Ind AS-19. The company also confirmed that SEBI's related-party transaction disclosure (Regulation 23(9)) does not apply to it given its small size.
Shareholders should note the turnaround to profitability but also the qualified auditor opinion, which raises concerns about the reliability of certain asset valuations and recoverability of old advances. The qualifications are not quantified but could affect future reported numbers once management completes its fair value assessment and recovers or writes off doubtful advances.