With reference to the above subject, we wish to inform you that the Board of Directors of the Company at their meeting held today i.e. 30.05.2025 has considered and approved the following: ....
Awaiting price reaction for this filing.
The Board approved audited financial results for Q4 and FY ended 31 March 2025. Revenue from operations was effectively zero (₹0), with total revenue of just ₹10.67 lakhs coming entirely from 'other income', down from ₹16 lakhs in FY24. The company posted a net loss of ₹18.73 lakhs for FY25, significantly wider than the ₹2.38 lakh loss in FY24. Total expenses rose to ₹34.73 lakhs against ₹10.67 lakhs of revenue, and operating cash flow was negative at ₹6.51 lakhs. The balance sheet shows a negative net worth of about ₹(198.47) lakhs (share capital ₹997.24 lakhs minus reserves of ₹(1195.71) lakhs), with long-term borrowings of ₹315.78 lakhs. The auditor (VASG & Associates) flagged that the company has defaulted on its term loan payments, though the audit opinion itself is unmodified.
This is a micro-cap shell with no real operations, widening losses, negative shareholders' funds, and a term loan default — all serious red flags. Shareholders should view the stock as highly risky with limited near-term recovery prospects unless the company restarts its core business or raises capital.