Maxgrow India Ltd

Maxgrow India Q1 FY2025 Results: Revenue Jumps, But Auditors Flag Concerns 📊

- Consolidated revenue from operations for Q1 FY2025: ₹3,55,006.67 lakhs (vs. ₹2,75,771.86 lakhs previous quarter).

- Consolidated profit before tax for Q1 FY2025: ₹6,871.41 lakhs (vs. ₹5,052.75 lakhs previous quarter).

- Standalone loss before tax for Q1 FY2025: ₹45.52 lakhs (vs. ₹452.48 lakhs loss previous quarter).

- Consolidated EPS for Q1 FY2025: ₹17.20 (vs. ₹14.17 previous quarter).

- Standalone EPS for Q1 FY2025: negative ₹0.11 (vs. negative ₹1.13 previous quarter).

- Listing fees paid: ₹28,15,497.00, impacting expenses.

- Auditors flagged unverified dormant bank accounts, lack of internal audit, and non-compliance with Ind AS 109 for interest-free loans.

- Dividend amount of ₹80,873.00 not transferred to Investor Education and Protection Fund, citing NCLT order exemptions.

- Company underwent Corporate Insolvency Resolution Process (CIRP) approved by NCLT on December 6, 2023; management handed over to resolution applicant on December 23, 2024.