Suncity Synthetics Ltd — Updates, 09-07-2025: Company Update

Suncity Synthetics Limited has announced a board meeting to consider the financial results for the quarter and half-year ended March 31, 2025. The company reported a loss of Rs. 56.44 lakh for FY 2024-25 against a profit of Rs. 12.85 lakh in the previous year, with revenues declining to Rs. 116.93 lakh from Rs. 200.10 lakh. The Board is proposing a significant reduction of share capital by 98%, slashing paid-up equity from Rs. 4.95 Cr to Rs. 9.89 lakh, by setting off accumulated losses of Rs. 4.86 Cr against the capital. This restructuring aims to clean the balance sheet to better reflect the company’s financial position and facilitate future fund-raising for business expansion. There is no change in shareholding pattern or management post this capital reduction. The company also appointed M/s Amarendra Mohapatra & Associates as secretarial auditor for three years and confirmed compliance with applicable corporate governance and audit requirements. The company continues to face challenges from previous years’ losses and market conditions but plans to leverage the capital restructuring to raise fresh equity and debt capital.