Transworld Shipping Lines Limited (formerly known as Shreyas Shipping & Logistics Ltd) announced the outcomes of its Board Meeting held on 27th May 2025:
- The Board approved the Audited Financial Results (Standalone and Consolidated) for the quarter and year ended 31st March 2025.
- The Statutory Auditors, M/s. PKF Sridhar & Santhanam LLP, issued an Audit Report with a modified opinion on the Audited Financial Results for the year ended 31st March 2025.
- The basis for the qualified opinion relates to the company's recording of an insurance claim income. The auditors noted that pending approval, the insurance claim income should have been recognized only upon acknowledgment of liability by the insurers. During the quarter ended 31st March 2025, the company reversed an insurance claim recoverable of ₹ 13.41 crore (₹ 1,341 lakhs) not yet approved. Had this income been recognized in the year ended 31st March 2025, the net profit after tax and total comprehensive income for the year would have increased by ₹ 30.89 crore (₹ 3,089 lakhs), and earnings per share would have been ₹ 29.53.
- For the financial year ended 31st March 2025, on a standalone basis:
- Revenue from operations stood at ₹ 446.27 crore (₹ 44,627 lakhs), compared to ₹ 282.39 crore (₹ 28,239 lakhs) in the previous year.
- Profit after tax was ₹ 33.96 crore (₹ 3,396 lakhs), a significant turnaround from a loss of ₹ 51.02 crore (₹ 5,102 lakhs) in the year ended 31st March 2024.
- Basic and diluted earnings per share (EPS) for FY25 was ₹ 15.47, compared to ₹ (23.24) in FY24.
- Cash generated from operations for FY25 was ₹ 168.73 crore (₹ 16,873 lakhs).
- The Board recommended a dividend of 15%, which is ₹ 1.50 per equity share of face value ₹ 10 each, for the financial year ended 31st March 2025. This dividend is subject to shareholders' approval at the upcoming Annual General Meeting (AGM).
- The 37th Annual General Meeting (AGM) of the shareholders is approved to be held on Friday, 22nd August 2025.
- The record date for determining eligible members to receive the final dividend for FY25 has been fixed as Friday, 25th July 2025.
- Mr. Ajit George Paul was re-appointed as Non-Executive Independent Director for a second term of five consecutive years, effective from 5th January 2026 to 4th January 2031, subject to shareholders' approval.
- Mr. Ratnagiri Sivaram Krishnan was re-appointed as Non-Executive Independent Director for a second term of five consecutive years, effective from 6th April 2026 to 5th April 2031, subject to shareholders' approval.
- Mr. B. Durgaprasad Rai, a Peer Reviewed Practicing Company Secretary, was appointed as Secretarial Auditor for a term of five consecutive years commencing from 1st April 2025, subject to shareholders' approval.
- The Board meeting commenced at 3:00 PM (IST) and concluded at 6:15 PM (IST) on 27th May 2025.