Innovative Tech Pack Ltd — Board Meeting, 30-05-2025: Board Meeting

Innovative Tech Pack Limited has announced a board meeting to approve the financial results for the quarter and half-year. The company reported a loss before tax of Rs 329.32 lakh in the latest quarter, compared to a profit of Rs 15.86 lakh in the same period last year, resulting in a loss of Rs 181 lakh for the financial year. Revenue declined to Rs 33.57 Cr from Rs 34.82 Cr year-on-year, while expenses remained high at Rs 37.30 Cr. Key issues include litigation over Rs 1.41 Cr of outstanding receivables, pending bonus payments of Rs 21.18 lakh from previous years, payment of wages partly in cash exceeding legal limits, and no actuarial valuation for employee benefits. The company wrote off Rs 6.51 Cr receivable from a major debtor under NCLT. Trade receivables and payables balances require reconciliation. Cash flows from operations remained positive at Rs 5.47 Cr, but net cash decreased due to financing outflows. No deferred tax assets were recognized due to uncertainty over future profits. No internal audit report is available, though an internal audit team exists. The auditors issued an unmodified opinion with emphasis on these matters.