SRM Energy Ltd — Board Meeting, 10-05-2025: Board Meeting

SRM Energy Limited has announced a board meeting on May 10, 2025, where it approved the audited standalone and consolidated financial results for the quarter and financial year ended March 31, 2025. The company reported continued cash losses, fully eroded net worth, and negative net worth of Rs 410.23 lakhs standalone and Rs 4,646.80 lakhs consolidated. Its current liabilities exceed current assets, raising material uncertainty on its ability to continue as a going concern without financial support from the parent company. The subsidiary, SRM Energy Tamilnadu Private Limited (SETPL), also has no operations and is incurring losses, with ongoing legal proceedings seeking a resolution plan. The auditors issued qualified opinions citing these uncertainties, inability to verify recoverability of certain investments and advances, and ongoing recovery actions by SEBI against SETPL. The company has alerted the public to fraudulent activities in its name via unauthorized channels. The board re-appointed M/s. A S N & Company as Internal Auditor for FY 2025-26.