Garnet International Ltd — Results, 30-05-2025: Result

Garnet International has announced a board meeting to approve the financial results for the quarter and half-year. The company reported a profit of Rs. 9.99 lakhs for the year compared to a loss of Rs. 141.42 lakhs in the previous year. Revenue from operations stood at Rs. 326.63 lakhs, down from Rs. 1,964.76 lakhs last year. However, the auditor issued a modified opinion citing the company’s failure to provide interest on unsecured inter-corporate loans (Rs. 5.47 Cr outstanding) and borrowings (Rs. 3.00 Cr), which would have increased finance costs and reduced profit if accounted for. Trade receivables include Rs. 2.29 Cr from parties under NCLT, with no provision made pending final order. The company raised Rs. 35.37 Cr through preferential issuance of warrants, with 25% consideration received and balance due on conversion within 18 months. Investors should note these audit qualifications and pending confirmations which could affect financial clarity.