Integrated Financials for Quater and Financial Year ended on 31.03.2025
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Vaxfab Enterprises (formerly Ellora Trading Ltd) reported audited results for FY25 with revenue from operations jumping sharply to ₹58.67 crore from ₹9.14 crore in FY24, driven by its textile trading business. The company swung to a profit of ₹58.42 lakh in FY25 from a loss of ₹356.99 lakh in FY24, with EPS improving to ₹0.70 from a negative ₹4.25. Total assets expanded dramatically to ₹112.25 crore from ₹18.26 crore, largely due to a massive build-up in inventory (₹66.27 crore vs ₹0.52 crore) and trade receivables. Trade payables also surged to ₹87.67 crore from ₹2.73 crore, and non-current borrowings rose to ₹7.74 crore. The statutory auditor SSRV & Associates issued an unmodified (clean) opinion on the results.
The return to profitability and revenue surge are positive for shareholders, but the huge spike in inventory and trade payables — far outpacing equity growth — raises questions about working capital sustainability and cash conversion. Investors should watch whether the receivables and payables translate into actual cash flows.