Universal Arts Limited (UAL) has announced its financial results for the first quarter, showcasing a remarkable improvement in profitability despite generating no revenue from operations.

Financial Highlights

• Profit Before Tax: UAL reported a standalone profit before tax of Rs. 11.68 lakhs, more than doubling from Rs. 5.21 lakhs in the same quarter last year, marking a 124% year-over-year increase.
• Total Income: The company's total income stood at Rs. 16.62 lakhs, entirely derived from other income sources, up significantly from Rs. 9.96 lakhs in the corresponding period.
• Expenses: Total expenses remained relatively stable at Rs. 4.94 lakhs compared to Rs. 4.75 lakhs in the previous year's quarter.
• Earnings Per Share: The earnings per share improved to Rs. 0.12 from Rs. 0.05 in the corresponding quarter of the previous year.

Consolidated Performance

On a consolidated basis, which includes the results of its subsidiary Bama Infotech Private Limited, UAL's performance showed similar trends:

• Consolidated Profit Before Tax: Reached Rs. 11.62 lakhs, up from Rs. 5.13 lakhs in the same quarter last year.
• Total Comprehensive Income: Increased to Rs. 11.89 lakhs from Rs. 5.38 lakhs year-over-year.

Financial Position and Auditor's Review

The company maintains a negative other equity of Rs. 187.30 lakhs, indicating accumulated losses. However, it's worth noting that the statutory auditors expressed no qualifications in their limited review report for both standalone and consolidated financial results.

Management Commentary

Manish Shah, Managing Director of Universal Arts Limited, signed off on the financial results, which were approved by the company's Board of Directors in their meeting.

Regulatory Compliance

UAL has submitted its unaudited financial results for the quarter to the BSE Limited in compliance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

While Universal Arts Limited has shown a significant improvement in profitability, the lack of operating revenue and reliance on other income sources may raise questions about the company's core business activities and long-term sustainability. Investors and stakeholders will likely be keen to see how the company plans to generate operational revenue in the coming quarters.

Universal Arts Limited has announced its unaudited financial results for the first quarter, along with several key corporate updates. The company's board approved these results during a meeting held on August 14.

Financial Performance

Universal Arts Limited reported a significant improvement in its financial performance for Q1 compared to the same period last year. Here's a breakdown of the key financial highlights:

The company's total income for the quarter stood at Rs. 16.67 lakhs, marking a 67.4% increase from Rs. 9.96 lakhs in the corresponding quarter of the previous year. This growth was primarily driven by a substantial rise in other income, which reached Rs. 16.62 lakhs.

Universal Arts Limited's profit before tax more than doubled, rising to Rs. 11.68 lakhs from Rs. 5.21 lakhs in Q1 of the previous year. Consequently, the earnings per share (EPS) improved to Rs. 0.12 from Rs. 0.05 in the same period last year.

Corporate Updates

In addition to the financial results, the company announced several important corporate decisions:

1. Annual General Meeting: The 30th Annual General Meeting (AGM) of Universal Arts Limited is scheduled for September 30.

2. E-voting Facility: Shareholders will have access to e-voting facilities from September 27 to September 29. The cut-off date for determining voting eligibility is set for September 23.

3. Appointment of Auditors:

   • M/s. Girish Murarka & Co has been appointed as the Secretarial Auditor for the financial year 2025-26.
   • An internal team has been constituted to serve as the Internal Auditor for the same period.

4. Scrutinizer Appointment: Mr. Girish Murarka, a practicing Company Secretary (COP - 4567) and Proprietor of Girish Murarka & Co., has been appointed as the Scrutinizer for both physical and remote e-voting processes.

The board meeting, which commenced at 7:00 PM, concluded at 8:15 PM on August 14.

Universal Arts Limited's improved financial performance and proactive corporate governance measures reflect the company's commitment to growth and transparency.