Outcome of the Board Meeting held on 27th May, 2025
Price
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Awaiting price reaction for this filing.
The Board approved audited financial results for Q4 and FY ended March 31, 2025, along with the Balance Sheet and Cash Flow Statement. The company reported zero revenue from operations, with total income of just Rs. 20.41 lakhs (all 'other income') versus Rs. 20.43 lakhs last year, confirming the management note that 'the operations of the company is not under consideration this year.' The company widened its loss to Rs. 15.41 lakhs in FY25 from Rs. 13.39 lakhs in FY24, with EPS at Rs. (0.35). Other equity has eroded further to Rs. (1,681.97) lakhs from Rs. (1,237.84) lakhs, while long-term borrowings stand at Rs. 579.40 lakhs against cash of just Rs. 11.45 lakhs. The statutory auditor (Parikh Shah Chotalia & Associates) issued an unmodified opinion but with an Emphasis of Matter flagging an unpaid related-party foreign currency payable of USD 4,56,001 (INR 3.90 crores) outstanding for over three years, with FEMA implications still being evaluated. The Board also appointed a new Secretarial Auditor for five years and a new Internal Auditor for FY26.
For shareholders: The company is operationally dormant with continuous losses, fully eroded reserves, and an unresolved multi-year related-party forex liability — strong going concern red flags despite the clean audit opinion. Stock price could remain under pressure as there is no visible path to operational revival.