Outcome of Board Meeting
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
The board approved audited standalone financial results for Q4 and FY ending March 31, 2025, reporting revenue from operations of ₹2,455 Lacs and a profit after tax of ₹217.01 Lacs (compared to a loss of ₹17.48 Lacs in FY24). However, the statutory auditor (Chandabhoy & Jassoobhoy) issued a Disclaimer of Opinion — the most severe form of audit opinion — stating they could not obtain sufficient evidence to form any view on the financials. Major unverifiable items include: ₹14,352 Lacs of inventory with no warehouse, ₹12,319.89 Lacs of unconfirmed borrowings, ₹8,472.96 Lacs of unsecured loans without interest or agreements, and ₹1,943.84 Lacs of unconfirmed supplier advances. The company also appointed Vishakha Agrawal & Associates as Secretarial Auditor for FY25. Operating cash flow was deeply negative at -₹22,202.88 Lacs against a small profit, and balance sheet borrowings now nearly equal equity capital.
This is a major red flag for shareholders — a Disclaimer of Opinion means the headline profit numbers are essentially unaudited and unreliable. With massive unverified assets, unconfirmed borrowings, no warehouse despite claiming large inventory, and deeply negative operating cash flow, investors should treat the reported PAT of ₹217 Lacs with extreme skepticism. Expect heightened regulatory scrutiny and significant stock price pressure.