The meeting of the Board of Directors of the Company was held today i.e. Thursday, May 29, 2025 at the registered office of the Company. Accordingly, the Board has inter alia considered ....
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Vedant Asset Limited's Board, at its meeting on May 29, 2025, approved the audited financial results for the half-year and year ended March 31, 2025, along with an unmodified audit opinion from statutory auditors M/s N.K. Kejriwal & Co. Revenue from operations fell to approximately Rs. 242.63 lakhs in FY25 from Rs. 338.74 lakhs in FY24, a decline of about 28%. Profit after tax for FY25 was around Rs. 22.17 lakhs. Net cash flow from operating activities remained negative at Rs. (91.23) lakhs in FY25, deeper than Rs. (72.45) lakhs in FY24. The auditor's report also flagged an outstanding income tax demand for AY 2021-22 and pending TDS reconciliation as on May 31, 2025.
The continued revenue decline and worsening negative operating cash flow are concerning, though the clean unmodified audit opinion provides some comfort. The divestment of subsidiary Kartik Credit Pvt Ltd in July 2024 likely explains part of the revenue drop. Shareholders should watch for a turnaround in core operations and clarity on the pending tax demand.