Audited Financial Results for the quarter and year ended March 31, 2025
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Welterman International reported zero revenue from operations for both FY25 and FY24, confirming the company has had no significant business activity. Total income was just ₹20.41 lakhs in FY25 (vs ₹20.43 lakhs in FY24), entirely from other income. Total expenses rose to ₹35.82 lakhs, pushing the loss after tax to ₹15.41 lakhs in FY25, wider than the ₹13.39 lakh loss in FY24. EPS stood at negative ₹0.35. The balance sheet shows deeply negative other equity of ₹1,681.97 lakhs (worsened from ₹1,237.84 lakhs) and borrowings of ₹579.40 lakhs. Net cash from operating activities was negative at ₹1.40 lakhs. The auditor issued an unmodified opinion but flagged an Emphasis of Matter on an unpaid related-party foreign currency payable of USD 4,56,001 (about ₹390 lakhs) outstanding for over three years, with FEMA implications still under evaluation.
For shareholders, this is a deeply concerning filing: a company with no operating revenue, mounting losses, fully eroded equity, and an unresolved foreign-exchange regulatory exposure related to a long-overdue related-party debt. The stock is essentially a non-operating shell with contingent regulatory risk, which is negative for valuation and investor confidence.