Toyam Sports Ltd — Results, 02-07-2025: Result

Toyam Sports Limited has announced a board meeting to approve the financial results for the quarter and half-year ended March 31, 2025. The audited standalone and consolidated results showed significant losses: standalone net loss stood at ₹42.11 Cr, while consolidated net loss was ₹47.95 Cr. The accounts include substantial impairment provisions on investments and goodwill (₹26.59 Cr and ₹9.72 Cr respectively). The statutory auditors issued a qualified opinion due to the company’s non-provisioning for expected credit losses on financial assets, lack of impairment analysis on loans and advances, and pending SEBI investigations including freezing of some shares. Additionally, the CFO resigned with effect from April 23, 2025. The company is primarily engaged in sports promotion, with over 50% of assets and revenue linked to financial assets. Management states no expected credit losses and confirms cooperation with SEBI but faces challenges due to ongoing regulatory scrutiny and unfulfilled statutory liabilities like TDS and professional tax.