ZENITHSTL: Zenith Steel Pipes & Industries Limited has informed the Exchange regarding Board meeting held on May 29, 2025, for approve the Audited Standalone and consolidated financial result for the financial year ended March 2025.
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Zenith Steel Pipes & Industries reported FY25 standalone revenue from operations of Rs. 11,909.25 lakhs, down about 16.8% from Rs. 14,321.66 lakhs in FY24. The company swung to a small standalone net profit of Rs. 22.51 lakhs (vs. a loss of Rs. 67.22 lakhs in FY24), with Q4 standalone PAT at Rs. 278.08 lakhs. The result was supported by a one-time provision write-back of Rs. 781.91 lakhs booked under 'Other Income'. The company's net worth remains deeply negative at Rs. (25,039.62) lakhs, reflecting fully eroded reserves. The statutory auditor (CKSP & Co LLP) issued a qualified opinion and flagged a material uncertainty on going concern, non-compliance with Section 74 deposit rules, unreconciled balances, unverified inventory valuation, and frozen bank accounts. The board also appointed Ms. Anil Somani & Associates as Secretarial Auditor for 5 years and M/s. DEVAM & Associates LLP as Internal Auditor for FY26.
Despite reporting a small profit, the company is in a financially distressed position with negative net worth, ongoing SARFAESI and SEBI litigation, qualified audit, and an explicit going-concern doubt from the auditor — all of which pose significant risk to shareholders and could weigh on the stock. The earnings improvement is largely non-recurring (provision write-backs), not driven by core operations.