GEE Limited , a manufacturer of welding consumables, copper coated wires, flux cored wires, and welding fluxes, has reported a significant financial setback for the fiscal year ended March 31, 2025. The company's board of directors approved the audited financial results, revealing a stark contrast to the previous year's performance.

Financial Performance

GEE Limited posted a net loss of Rs 924.03 crore for FY2025, a dramatic reversal from the profit of Rs 1,285.57 crore recorded in the previous fiscal year. The company's revenue from operations also saw a decline, dropping to Rs 33,383.50 crore from Rs 36,914.30 crore in the previous year.

The financial results paint a challenging picture for the company:

Key Financial Indicators

• Total expenses increased to Rs 34,607.10 crore in FY2025 from Rs 35,180.51 crore in FY2024.
• The company reported a loss before tax of Rs 1,196.39 crore, compared to a profit before tax of Rs 1,806.69 crore in the previous year.
• Other comprehensive income for the year stood at Rs 6.36 crore.

Operational Highlights

Despite the financial downturn, GEE Limited maintained its operations in manufacturing welding consumables, copper coated wires, flux cored wires, and welding fluxes. The company's inventory as of March 31, 2025, stood at Rs 7,964.21 lakh, indicating a significant stock of products.

Corporate Governance and Auditor Changes

In a series of corporate governance moves, GEE Limited's board made several key decisions:

1. Accepted the resignation of Internal Auditor Mr. Anilkumar Agarwal, effective July 22, 2025.
2. Appointed M/s. A K Saraf & Co. as the new Internal Auditor for FY 2025-26.
3. Appointed M/s. S. Chhaparia & Associates as Cost Auditor for FY 2025-26.
4. Noted the Annual Secretarial Compliance Report under Regulation 24A for FY 2025.

Audit Matters and Contingent Liabilities

The company's auditors highlighted several key audit matters:

1. A disputed excise duty matter involving Rs 2.07 crore, currently under appeal with CESTAT.
2. An ongoing tax demand of Rs 70.96 lakh under appeal with CIT Appeals-1, Thane.
3. Additional provisions of Rs 2.27 crore on trade receivables and Rs 2.22 crore on advances during the year.

Outlook

While the company faces significant financial challenges, it continues to operate in its core business segments. The appointment of new auditors and the focus on corporate governance measures suggest that GEE Limited is taking steps to address its financial situation and improve its operational efficiency.

Investors and stakeholders will be closely watching the company's performance in the coming quarters for signs of recovery and the effectiveness of its strategic decisions in turning around its financial position.

GEE Limited (BSE: 504028) has announced the postponement of its Board of Directors meeting, originally scheduled for July 23, 2025, due to unforeseen circumstances. The meeting was set to discuss and approve the financial results for the second quarter of 2025.

Postponement Details

In a regulatory filing to the Bombay Stock Exchange (BSE) on July 22, 2025, GEE Limited stated:

• The board meeting scheduled for Wednesday, July 23, 2025, at 4:00 PM (IST) has been postponed.
• The company will announce a revised date and time for the meeting in due course.
• The postponement is in accordance with the applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Trading Window Closure

GEE Limited also provided an update on the trading window status:

• The trading window for the company's securities remains closed.
• It will continue to be closed until 48 hours after the announcement of the Q2 2025 financial results.
• This closure is in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015, and the BSE circular dated April 02, 2019 (Reference no. LIST/COMP/01/2019-20).

Investor Impact

The postponement of the board meeting may delay the release of GEE Limited's Q2 2025 financial results. Investors and stakeholders are advised to await further communications from the company regarding the rescheduled meeting date and time.

GEE Limited has assured that it will intimate the revised schedule for the Board Meeting in accordance with regulatory requirements. Shareholders and potential investors should stay tuned for updates from the company through official channels and stock exchange notifications.

The company's management, led by Whole-time Director Umesh Agarwal, has signed off on the regulatory filing, emphasizing their commitment to keeping the market informed of these developments.