Outcome of Board Meeting held on May 24, 2025
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The Board of Directors, at its meeting on May 24, 2025, approved the audited standalone and consolidated financial results for Q4 and FY ended March 31, 2025. On a standalone basis, revenue from operations declined ~21% to Rs. 2,949.76 lakhs (vs Rs. 3,734.80 lakhs in FY24), but profit after tax rose to Rs. 316.67 lakhs from Rs. 284.28 lakhs, with EPS at Rs. 12.42. On a consolidated basis, revenue grew ~17.5% to Rs. 10,514.37 lakhs and profit after tax surged to Rs. 2,718.09 lakhs (vs Rs. 1,125.76 lakhs), boosted by exceptional items of Rs. 1,931.85 lakhs. These exceptional items include a Rs. 2,334.82 lakh gain on sale of property/plant/equipment offset by a Rs. 402.97 lakh write-off due to a cyber fraud at the subsidiary, Brady & Morris Engineering Company Ltd. The Board also appointed M/s. Himank Desai & Co. and M/s. V.V. Kale & Co. as Internal Auditors for FY 2025-26. The statutory auditor (J.G. Verma & Co.) issued an unmodified opinion on the results.
Consolidated headline numbers look strong but are largely driven by a one-time property sale gain; underlying standalone business is shrinking and a cyber fraud incident at the subsidiary is a red flag worth monitoring, despite the company's use of MAT credit and continued dividend capacity.