Suncity Synthetics Ltd — Others, 09-07-2025: AGM/EGM

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, compared to a profit of Rs. 12.85 lakh in the previous year, with revenue declining to Rs. 116.93 lakh from Rs. 200.10 lakh. The board approved the appointment of M/s Amarendra Mohapatra & Associates as secretarial auditors for three years. The company also proposed a significant reduction of share capital by 98%, from Rs. 4.95 Cr to Rs. 9.89 lakh, to set off accumulated losses and restructure its balance sheet, enabling it to raise future funds for business expansion. This capital restructuring will not affect the shareholding pattern or management control. No dividend was declared due to losses, and no changes in authorized or paid-up capital were made outside the reduction scheme. The company continues compliance with applicable laws and has adequate internal controls.