Audited Financial Results for the Quarter and Year ended March 31, 2026
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Venmax Drugs reported revenue of Rs. 802.49 lakhs for FY 2025-26, a massive jump from Rs. 80.73 lakhs in the prior year (approximately 894% increase). The company swung from a net loss of Rs. 1.05 lakhs to a profit of Rs. 24.82 lakhs. However, operating cash flow is deeply negative at Rs. 1,099.61 lakhs (vs. Rs. 229.02 lakhs negative last year), indicating the reported profit is not backed by cash generation. The balance sheet shows significant unexplained growth in Other Financial Assets (Rs. 735 lakhs vs. Rs. 161 lakhs) and Other Current Assets (Rs. 516 lakhs vs. Rs. 3 lakhs). The company also converted 63.44 lakh share warrants into equity, increasing share capital to Rs. 1,158.29 lakhs. Auditors issued an unmodified (clean) opinion.
While the company reports profit and strong revenue growth, the deeply negative operating cash flow and unexplained asset growth raise concerns about earnings quality. Shareholders should monitor cash conversion and asset composition closely.