Adroit Infotech Limited announced its annual audited standalone and consolidated financial results for the year ended 31 March 2025, approved by the Board of Directors on 22 May 2025.
- Key financial highlights (Standalone):
- Total Income for FY25 increased to ₹914.50 Lakhs (₹9.15 crore) from ₹684.87 Lakhs (₹6.85 crore) in FY24.
- The company reported a profit of ₹5.61 Lakhs for the period from continuing operations in FY25, compared to a profit of ₹207.86 Lakhs in FY24.
- Earnings per share (Basic, after extraordinary items) for FY25 was ₹(0.00) (loss) compared to ₹0.99 profit in FY24.
- Exceptional items:
- The company recognized an exceptional gain of ₹293.17 Lakhs (₹2.93 crore) due to the reversal of contingent consideration obligations related to the acquisition of Verso, as the remaining payout was waived due to non-compliance with conditions.
- Other significant items impacting profitability:
- Bad debts amounting to ₹323.70 Lakhs (₹3.24 crore) were charged to Other Expenses, deemed fully impaired and unrecoverable from earlier branch and subsidiary operations.
- An extraordinary charge (net of tax) of ₹47.68 Lakhs (₹0.48 crore) was recognized for GST liability for FY 2018-19, following an appellate order.
- A deferred tax expense of ₹127.12 Lakhs (₹1.27 crore) was recognized as some tax assets may no longer be recoverable.
- The company's statutory auditors, M/s. Rao & Shyam Chartered Accountants, issued an unmodified opinion on the audited financial results.
- During the year, the company completed a Rights Issue of up to 3,25,01,058 partly paid-up equity shares at ₹15 per share (including a premium of ₹5 per share) in a 3:2 ratio. The final call of ₹7.50 per share was made on 2,94,20,865 shares.
- The Managing Director, Sudhakiran Reddy Sunkerneni, confirmed the unmodified opinion of the statutory auditors on the standalone and consolidated audited financial results for the year ended 31 March 2025.