Integrated filing (financials) for the Quarter and Year ended March 31st 2025.
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Venmax Drugs posted total revenue of Rs. 186.05 lakhs in FY25 versus Rs. 19.86 lakhs in FY24, driven mainly by other income of Rs. 105.32 lakhs; revenue from operations was Rs. 80.73 lakhs (vs nil in FY24). The company slipped into a small loss of Rs. 1.05 lakhs in FY25 compared to a profit of Rs. 6.45 lakhs in FY24, with Q4 alone showing a profit of Rs. 77.82 lakhs. The balance sheet ballooned to Rs. 516.96 lakhs (from Rs. 8.14 lakhs) after the company received Rs. 507.25 lakhs as 25% upfront money for 1 crore convertible warrants issued on a preferential basis. Cash on hand jumped to Rs. 248.24 lakhs, while accumulated losses stood at Rs. 589.95 lakhs. The statutory auditor (PPKG & Co.) issued an unmodified (clean) audit opinion, and the company confirmed no loan defaults and no related party transactions.
The clean audit opinion and fresh capital infusion from the warrant issue are positives, but persistent accumulated losses, a negative operating cash flow of Rs. 229 lakhs, and negligible operating revenue suggest the company is still in turnaround mode and dependent on non-core income and fresh capital for survival.