Zuari Agro Chemicals Limited has informed the Exchange regarding Board meeting held on May 14, 2025.
ZUARI · price
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Zuari Agro Chemicals' board, at its May 14, 2025 meeting, approved audited standalone and consolidated results for Q4 and FY ended March 31, 2025. On a consolidated basis, profit after tax (PAT) rose about 35% year-on-year to Rs 230.96 crore in FY25 from Rs 170.93 crore in FY24, while revenue declined roughly 10% to Rs 4,136 crore from Rs 4,595 crore. Standalone results swung to a Rs 73.10 crore loss in FY25 from a Rs 21.40 crore profit in FY24, hit by a temporary Mahad plant shutdown due to raw material shortages and lower other income. The statutory auditor (K.P. Rao & Co.) issued an unmodified opinion but drew attention to three emphasis-of-matter items: a SEBI show cause notice to the company and some key managerial personnel alleging past financial irregularities (for which a settlement application has been filed), a disputed Rs 29.14 crore urea subsidy recognition at subsidiary MCFL pending in the Delhi High Court, and the proposed merger of MCFL with Paradeep Phosphates Limited. The board also re-appointed Independent Director Sanjeev Lall for a second 3-year term and appointed new Cost, Internal, and Secretarial Auditors for FY26.
Consolidated earnings growth is a positive, supported by a strong contribution from the joint venture (PPL). However, standalone losses, declining top line, the Mahad plant shutdown, and ongoing regulatory and subsidy disputes create near-term uncertainty for shareholders.