We would like to inform you that the Board of Directors of the Company at its meeting held on Tuesday, May 06, 2025 at 08:30 PM has inter-alia considered and approved the following: 1. ....
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The Board of Directors at its meeting on May 6, 2025 approved the audited financial results for Q4 and FY ended March 31, 2025, with auditors Bilimoria Mehta & Co. issuing an unmodified (clean) opinion. The company also approved seeking shareholder approval via postal ballot to deviate the use of Rs. 7.63 crore raised through a 2022 preferential allotment, originally intended for general purposes, towards acquiring/investing in a US-based foreign entity called 'International Logistics Associates LLC' (Rs. 6 crore), inorganic acquisitions, working capital, and general corporate use. FY25 total income rose to Rs. 69.50 lakhs (from Rs. 40.67 lakhs in FY24), and net profit surged to Rs. 43.95 lakhs (from Rs. 17.96 lakhs), driven largely by higher other income. The company's net worth turned positive (other equity at Rs. 0.34 lakh vs negative Rs. 43.61 lakh earlier), and cash balance jumped to Rs. 74.77 lakhs.
For shareholders: The strong profit turnaround, cleaned-up balance sheet, and proposed overseas acquisition through ILA signal an aggressive global expansion push, though execution risk and minority shareholder approval (postal ballot) remain key. Core revenue from operations remained flat at Rs. 25 lakhs, meaning profits were largely non-operating. The change of statutory auditor from P. Shah & Co. to Bilimoria Mehta & Co. between FY24 and FY25 may warrant attention.