Zuari Industries Limited's Board of Directors, at its meeting held on 27 May 2025, approved the Audited Financial Results (Standalone and Consolidated) for the quarter and year ended 31 March 2025. The Statutory Auditors have issued unmodified opinions on these financial results.
Key financial highlights for the year ended 31 March 2025:
- Standalone Performance:
- Revenue from operations: ₹87,066.44 lakhs (compared to ₹71,464.80 lakhs in FY24)
- Total Income: ₹97,994.43 lakhs (compared to ₹90,085.36 lakhs in FY24)
- Net Loss for the year: ₹3,736.81 lakhs (compared to a profit of ₹2,265.59 lakhs in FY24)
- Basic Earnings Per Share (EPS): ₹(12.55) (compared to ₹7.61 in FY24)
- Consolidated Performance:
- Revenue from operations: ₹97,033.01 lakhs (compared to ₹83,780.07 lakhs in FY24)
- Total Income: ₹1,08,247.57 lakhs (compared to ₹1,06,718.66 lakhs in FY24)
- Net Loss for the year: ₹9,437.38 lakhs (compared to a profit of ₹71,275.40 lakhs in FY24)
- Basic Earnings Per Share (EPS): ₹(31.30) (compared to ₹239.72 in FY24)
The Board also declared interim dividends on unlisted preference shares:
- 10.5% Non-Convertible Redeemable Preference Shares (NCRPS) of ₹10/- each:
- Interim dividend of 10.5%, i.e., ₹1.050 per share for the Financial Year 2024–25.
- Interim dividend at a proportionate rate of 2.22%, i.e., ₹0.222 per share for the period from 1 April 2025 to 16 June 2025 (up to the date of redemption).
- 7% Non-Convertible Redeemable Preference Shares (NCRPS) of ₹10/- each:
- Interim dividend of 7%, i.e., ₹0.700 per share for the Financial Year 2024–25.
- Interim dividend at a proportionate rate of 1.48%, i.e., ₹0.148 per share for the period from 1 April 2025 to 16 June 2025.
Furthermore, the Board recommended a final dividend on Equity Shares at the rate of 10%, i.e., Re. 1/- per Equity Share of ₹10/- each. This final dividend is subject to shareholder approval at the forthcoming Annual General Meeting.
In a significant corporate action, the Board approved the redemption of 58,52,034 unlisted 10.5% Non-Convertible Redeemable Preference Shares of ₹10/- each of the Company.
The Independent Auditor's Report on Consolidated Financial Results highlighted certain emphasis of matters concerning Zuari Agro Chemicals Limited (ZACL), an associate of the Holding Company:
- Recognition of urea subsidy of ₹29.14 crores by Mangalore Chemicals and Fertilisers Limited (MCFL), a subsidiary of ZACL, with a writ petition filed against the Department of Fertilizers.
- Proposed merger of MCFL with Paradeep Phosphates Limited on a going concern basis.
- Receipt of a Show Cause Notice dated 14 January 2025 from SEBI regarding alleged irregularities in financial statements for earlier years. A joint settlement application has been filed by the Company and other noticees, with the matter awaiting settlement order from SEBI.