Suncity Synthetics Ltd — Others, 09-07-2025: Others

Suncity Synthetics Limited has announced a board meeting to consider the financial results for the quarter and half-year. The company reported a loss of Rs. 56.44 lakh for FY 2024-25, reversing from a profit of Rs. 12.85 lakh in the previous year. Revenue dropped to Rs. 116.93 lakh from Rs. 200.10 lakh. The company is undertaking a major reduction of its share capital by 98%, reducing paid-up equity from Rs. 4.95 Cr to Rs. 9.89 lakh, to offset accumulated losses and improve its balance sheet for future fund-raising. This capital restructuring will not affect the promoter shareholding or management control. A new Secretarial Auditor, M/s Amarendra Mohapatra & Associates, has been appointed for a three-year term. Operational challenges include market conditions and working capital constraints. The company shifted its registered office from Gujarat to Maharashtra in 2024. The audit reports contain no qualifications, and the company maintains adequate internal controls and compliance systems.