With reference to the above, we wish to inform the Exchanges that the Board of Directors of the Company at their meeting held today i.e Tuesday, 12th August, 2025 has transacted and approved ....
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The Board approved standalone unaudited financial results for Q1 FY26 (quarter ended 30 June 2025). Revenue from operations jumped sharply to Rs 1,319.79 lakhs from just Rs 72.27 lakhs in Q1 FY25, while total income rose to Rs 1,335.39 lakhs. The company reported a net loss of Rs 167.66 lakhs, a significant improvement from the Rs 463.57 lakhs loss a year ago, with loss before tax narrowing to Rs 169.91 lakhs. EPS stood at Rs (0.07) versus Rs (0.18) in the year-ago quarter. The full-year FY25 (audited) had revenue of Rs 9,277.90 lakhs and a loss of Rs 1,354.44 lakhs. The statutory auditor (M/s Mahesh Udhwani & Associates) issued a qualified review report, flagging unprovided advances of Rs 760 lakhs and certain trade receivables where no expected credit loss was recognised.
Strong year-on-year revenue growth and a much smaller loss are positive signs for the business turnaround story. However, the auditor's qualified opinion over Rs 760 lakhs of unprovided advances is a yellow flag that investors should track, as it raises questions about asset quality and recovery of these advances.