NewsEarningsAVIVA Industries Reports FY25 Annual Results with Net Loss and Auditor QualificationAVIVA Industries Reports FY25 Annual Results with Net Loss and Auditor Qualification
AVIVA Industries Limited submitted revised FY25 financial results, showing a revenue decline to ₹3.19 lakhs from ₹9.60 lakhs in FY24. Net loss improved to ₹1.22 lakhs from ₹2.48 lakhs. The company faced a qualified audit opinion due to non-appointment of a whole-time Company Secretary, violating SEBI regulations and the Companies Act. Management is addressing this compliance issue. The company operates in trading glass, metal, and construction chemicals, with its stock trading currently suspended.
*this image is generated using AI for illustrative purposes only.
AVIVA Industries Limited has submitted its revised standalone financial results for the quarter and year ended March 31, 2025, addressing discrepancies raised by BSE regarding the Statement of Impact of Audit Qualifications format. The company rectified the submission to comply with prescribed SEBI circular requirements, presenting figures in proper tabular format.
Financial Performance Overview
The company's financial results for FY25 show mixed performance indicators. Key financial metrics demonstrate the company's operational challenges during the reporting period.
| Financial Metric | FY25 (Audited) | FY24 (Audited) | Change |
|---|---|---|---|
| Revenue from Operations | ₹3.19 lakhs | ₹9.60 lakhs | Decline |
| Total Expenses | ₹4.41 lakhs | ₹12.08 lakhs | Reduction |
| Net Loss | ₹1.22 lakhs | ₹2.48 lakhs | Improvement |
| Earnings Per Share | ₹(0.09) | ₹(0.18) | Improvement |
Balance Sheet Position
As of March 31, 2025, the company's financial position reflects its current operational status and asset base.
| Balance Sheet Item | March 31, 2025 | March 31, 2024 |
|---|---|---|
| Total Assets | ₹4.11 lakhs | ₹5.85 lakhs |
| Investments | ₹1.66 lakhs | ₹1.66 lakhs |
| Cash and Cash Equivalents | ₹0.00 lakhs | ₹0.00 lakhs |
| Total Equity | ₹(8.21) lakhs | ₹(6.99) lakhs |
Auditor Qualification and Compliance Issues
P Singhvi & Associates, the company's auditors, issued a qualified opinion on the financial results. The qualification stems from non-compliance with statutory requirements regarding Company Secretary appointment.
Key Audit Qualification Details:
| Aspect | Details |
|---|---|
| Type of Qualification | Qualified Opinion |
| Nature of Issue | Non-appointment of whole-time Company Secretary |
| Regulatory Impact | Non-compliance with SEBI Listing Regulations and Companies Act, 2013 |
| Frequency | Appeared First Time |
The auditors emphasized that during the year under review, the company did not have a whole-time Company Secretary, leading to non-compliance with Regulation 6 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and Section 203 of the Companies Act, 2013.
Management Response and Remedial Actions
Management has acknowledged the audit qualification and provided their response regarding the compliance issue. The company stated it is in the process of appointing a whole-time Company Secretary to address the regulatory non-compliance.
Additional Operational Notes:
- The company operates in a single segment involving trading of glass, metal, and construction chemicals
- Trading in the company's securities remains suspended due to non-payment of listing fees
- The company uses accounting software that lacked audit trail features for transaction recording
Regulatory Submissions
AVIVA Industries Limited, incorporated in 1984 with CIN L51100MH1984PLC034190, maintains its registered office in Navi Mumbai and corporate office in Ahmedabad. The company has submitted the rectified financial results in compliance with Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring proper PDF and XBRL format submissions to BSE's online portal.
15
