Gleam Fabmat Ltd — Board Meeting, 29-05-2025: Board Meeting

Gleam Fabmat Limited has announced a board meeting to approve the financial results for the quarter and half-year. The company reported revenue from operations of Rs. 12.26 Cr and total income of Rs. 12.39 Cr for the year ended, with a net profit of Rs. 0.01 Cr, down from Rs. 0.08 Cr the previous year. Total equity stands at Rs. 9.87 Cr, with long-term borrowings of Rs. 2.95 Cr and current liabilities notably higher at Rs. 19.05 Cr versus Rs. 6.74 Cr last year, largely due to increased trade payables. The company faces a legal dispute with Axis Bank over an outstanding credit facility of Rs. 2.06 Cr since 2019, with ongoing proceedings at the Debt Recovery Tribunal restricting sale or transfer of mortgaged property linked to a director. Gleam Fabmat has shifted its trading operations to Gujarat, dealing in precious and non-precious stones and metals. Cash and cash equivalents remained stable at approximately Rs. 0.05 Cr.