Audited Financial results for the quarter and financial year ended 31st March 2025
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Veerkrupa Jewellers reported FY25 audited results with revenue from operations more than doubling to ₹2,925.69 lakhs from ₹1,385.19 lakhs in FY24, a sharp ~111% growth. Despite the strong top-line, profit after tax fell ~20% to ₹17.88 lakhs (from ₹22.44 lakhs) and EPS slipped to ₹0.23 from ₹0.29, showing clear margin compression. Operating cash flow turned sharply negative at ₹(688.54) lakhs versus a marginal ₹0.84 lakhs last year, driven by a large inventory build-up (up to ₹1,795.8 lakhs) and rising trade receivables (up to ₹212.64 lakhs). Short-term borrowings jumped to ₹886.77 lakhs from ₹191.69 lakhs to fund this working capital gap. The auditor, AKGVG & Associates, issued an unmodified (clean) opinion, noting a change from the predecessor auditor, and flagged that certain miscellaneous expenditure was not written off as required by IND AS.
The combination of strong revenue growth with falling profits, deeply negative operating cash flow, and a big jump in short-term debt points to significant working capital stress. Shareholders should monitor inventory and receivables trends closely, as further deterioration could pressure liquidity despite the clean audit opinion.