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Business Standard
2 days ago
- Business
- Business Standard
eYantra Ventures Ltd concludes board meeting to declare audited financial results for FY 2024-25
VMPL Hyderabad (Telangana) [India], June 11: eYantra Ventures Ltd (BSE: 512099), reported its standalone and consolidated financial results according to Ind AS for the quarter and financial year (FY) ending March 31, 2025. Consolidated revenue grew by 95% at Rs. 32.89 Crores during FY 2024-25, led by performance both the business divisions of the company i.e. Merchandising and IT Services. The Board of Directors, in its meeting held on 30th May 2025, approved the Standalone and Consolidated Audited Financial Results for the quarter and financial year ended 31st March 2025. Strong Group-Wide Business Performance The consolidated operations of eYantra Group which includes eYantra Ventures Ltd, Prismberry Technologies Pvt. Ltd, eYantra Ventures FZE (UAE) achieved a total business turnover of Rs. 32.89 Crores in FY 2024-25, a remarkable 95% growth over the previous year's Rs. 16 Crores. This growth reflects the Group's multi-sector presence spanning B2B merchandise and IT services. eYantra group has business operations in multiple cities across India and other geographies including UAE and USA. During FY2025, eYantra Ventures Ltd invested in Neuro and Spine Associates Pvt Ltd (NASA) by securing a 38.65% equity stake as of 31st March 2025. Focused on neurosciences, spine care and orthopaedics, NASA operates in a high-potential segment within India's healthcare landscape. In line with Indian Accounting Standards (IND-AS 28), the investment is being accounted for as an associate and therefore is not consolidated under IND-AS 110 for the FY 2024-25. NASA currently has 2 hospitals in Hyderabad and Vijayawada with a combined capacity of 180 beds. During FY 2024-25 the company raised Rs. 15 crores through private placement by way of preferential issue of equity shares to fund various objectives including working capital requirements & pursuing strategic investments.
Business Standard
23-05-2025
- Business
- Business Standard
ITC gains as Q4 PAT zooms 290% YoY to Rs 19,562 cr; declares dividend of Rs 7.85/sh
ITC added 1.80% to Rs 433.75 after the company's standalone net profit spiked 289.65% to Rs 19,561.57 crore in Q4 FY25 as against Rs 5,020.20 crore posted in Q4 FY24. Revenue from operations (excluding excise duty) was at Rs 17,248.21 crore in the March quarter FY25, up 9.26% year on year. Profit before tax rose 2.05% year on year to Rs 6,416.85 crore in Q4 FY25. EBITDA improved by 2.46% year-on-year to Rs 5,986 crore in Q4 FY25, from Rs 5,842 crore in Q4 FY24. The companys FMCG Others segment reported a 5.06% year-on-year growth in revenue to Rs 13,894.24 crore in Q4 FY25, despite subdued demand conditions and a sharp rise in input costs. The revenue from Cigarettes rose by 5.99% YoY to Rs 8,399.61 crore in the fourth quarter of FY25. The Agri Business segment posted a 17.68% year-on-year rise in revenue to Rs 3,649.16 crore in Q4 FY25, driven by strong performance in leaf tobacco, value-added agri products, and rice exports. The companys paperboards, paper and packaging segment remained impacted by low-priced imports from China and Indonesia, subdued domestic demand, and a sharp surge in wood prices. Segmental revenue for paperboards, paper & packaging rallied 5.53% YoY to Rs 2,187.62 crore in Q4 FY25. The companys Hotels Business has been classified as Discontinued Operations in the financial results for the year ended 31st March 2025, in accordance with applicable Indian Accounting Standards. The business has been demerged into ITC Hotels Limited (ITCHL) w.e.f. 01 January 2025. ITCHL shares listed on stock exchanges on 29 January 2025. The Incense Sticks (Agarbattis) category continued to witness robust growth during the year, with the companys flagship brand Mangaldeep capitalising on market opportunities and strengthening its market position. The business delivered a robust performance during the year, with the Value-Added Agri Products (VAAP) portfolio posting strong growth, led by higher exports of spices and coffee. Meanwhile, the Board has approved a final dividend of Rs 7.85 per share for the financial year FY25. Additionally, the re-appointment of Shyamal Mukherjee as a Director, and as an independent director for a five-year term, effective from 11th August 2026, has been recommended for approval by the members. Separately, ITC announced the acquisition of shares in Mother Sparsh Baby Care. The acquisition comprises 594 equity shares of Rs 10 each, acquired through a secondary purchase from an existing shareholder of Mother Sparsh, and 2,201 compulsorily convertible preference shares (CCPS) of Rs 10 each, subscribed through a primary issuance. The cost of acquisition for the shares is approximately Rs 50.6 crore. The company does not have any promoters or promoter group. Additionally, the group companies have no interest in Mother Sparsh. Following the acquisition, the companys shareholding in Mother Sparsh has increased from 26.50% to 39.47% of its share capital on a fully diluted basis. The acquisition aligns with the companys strategy to build a future-ready portfolio of products catering to evolving consumer needs. Mother Sparsh, a premium Ayurvedic and natural personal care start-up, specializes in baby personal care, health & hygiene, and expert baby care. The Indian baby care market is experiencing significant growth, driven by factors such as rising disposable incomes and increasing awareness about the demand for safer baby products. ITC is a diversified conglomerate with businesses spanning fast-moving consumer goods, hotels, paperboards and packaging, agribusiness and information technology.
New Indian Express
22-05-2025
- Business
- New Indian Express
ITC Q4 profit grows at 3%; revenue up 9%
FMCG major ITC has posted a 9.2% growth in fourth quarter revenue at Rs 21,016 crore even as profit from continuing operations showed a moderate growth of 3% to Rs 5,155 crore. The company cited sharp escalation in key input materials (edible oil, wheat, maida, potato, cocoa, leaf tobacco, pulpwood etc.), especially in the second half of the year as the reason for weak profit growth. The hotel business, which was demerged into ITCHL from 1 January 2025, was reported as 'Discontinued Operations' in the financial results for the year ended 31st March 2025 in line with applicable Indian Accounting Standards. Profit after tax (PAT) from discontinued operations during the quarter was Rs 14,652 crore, taking the company's total profit to Rs 19,405 crore during the quarter. Overall net profit for FY25 (including profit from discontinued operations) stood at Rs 35,196 crore. The full-year revenue grew by 10.2% to Rs 84,142 crore. FMCG revenue during the quarter rose by 3.7% in Q4 and 4.8% for the full year. Atta, spices, snacks, frozen snacks, dairy, premium personal wash, homecare and agarbatti were the major drivers for the FMCG segment during the year. Revenue from cigarette business was up 7.1% YoY and PBIT up 4.9% for the full year. In Q4, revenue was up 6.0%, while PBIT was up 4.0%. Agri business segment led by leaf tobacco, value-added agri products and rice exports saw 25% increase in full year revenue and 18% growth in Q4. The company said that the paperboards, paper and packaging segment remains impacted due to low priced Chinese and Indonesian supplies in global markets including India. Further subdued realisation and surge in domestic wood prices continue to weigh on margins.
Time of India
03-05-2025
- Business
- Time of India
Sebi imposes Rs 58.5 crore penalty on Seya Industries' top executives for financial fraud and fund diversion
Markets regulator Sebi has imposed a total penalty of Rs 58.5 crore on four senior officials of Seya Industries Ltd, including promoter and Chairperson Ashok Rajani and his son, Amrit Rajani, for allegedly siphoning off funds and falsifying financial statements over multiple years, news agency PTI reported. In its final 122-page order issued Friday, Sebi found that Seya Industries diverted Rs 81.26 crore to companies linked to the promoter family — namely Whiz Enterprises, Aneeka Universal, and Shri Balaji Entertainments — under the guise of sales and purchases, or via undisclosed fund transfers during FY19, FY20, and FY21. These transactions were concealed and not reported as related party transactions in the company's financial statements, violating several regulatory norms. The regulator levied a Rs 28 crore fine each on Ashok Ghanshyamdas Rajani (Chairman and Managing Director) and Amrit Rajani (CFO), Rs 2 crore on Executive Director Asit Kumar Bhowmik, and Rs 50 lakh on Executive Director Sivaprasada Rao Buddi. Sebi said Seya Industries also falsified its financial records for FY19 and FY20 through fictitious sales and purchases, in violation of the Prohibition of Fraudulent and Unfair Trade Practices (PFUTP) rules and disclosure obligations. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Pernas e pés inchados: Experimente isso para ajudar a drenar o fluído do edema aartedoherbalismo Undo Further, Sebi highlighted that the company's accounting for interest in FY20 through FY22 and the quarters ending June, September, and December 2022, was not compliant with Indian Accounting Standards. Despite these findings, Sebi clarified that no punitive action is currently being taken against the company itself due to the ongoing insolvency proceedings under the Insolvency and Bankruptcy Code (IBC). The regulator said it will address the case against the company in a separate order. Sebi observed that Ashok Rajani, being at the helm of Seya Industries, was deeply involved in the day-to-day operations and personally signed off on misleading financial statements for four consecutive fiscal years. His son, Amrit Rajani, was held equally responsible for overseeing financial irregularities. 'I note that Amrit Rajani, being CFO of the company and looking after the day-to-day affairs of the company, was a KMP of the company at the relevant time and thus, is responsible for the violations committed by the company,' Sebi Whole-Time Member Ananth Narayan G said in the order. Executive Directors Bhowmik and Buddi, tasked with ensuring compliance and accurate financial reporting, were found to have failed in their responsibilities, damaging investor trust in the securities market. Both were found to have violated insider trading, PFUTP, and disclosure rules. All four individuals — Ashok Rajani, Amrit Rajani, Bhowmik, and Buddi — have been barred from accessing the securities markets for five years. They are also prohibited from holding positions as directors or key managerial personnel (KMP) in any listed company or Sebi-registered intermediary for the same duration. Additionally, Sebi has directed Amrit Rajani to ensure that the Rs 81.26 crore siphoned off through promoter-linked entities is returned to Seya Industries within six months, along with 12% annual interest from the date of diversion. The action follows complaints filed between 2020 and 2021 by SC India Fund Manager, which accused the company of raising funds through private placement based on inflated financial statements. After Seya failed to cooperate with the National Stock Exchange (NSE), Sebi appointed Ernst & Young in September 2021 to conduct a forensic audit. The investigation focused on the financial years ending March 2019, 2020, and 2021. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
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Business Standard
03-05-2025
- Business
- Business Standard
Sebi fines Seya Industries ₹58.5 cr for 'fund misuse, financial fraud'
Markets regulator Sebi has slapped penalties totalling Rs 58.50 crore on four Seya Industries' senior executives, including promoter and Chairperson Ashok Rajani and his son Amrit Rajani, for alleged siphoning of funds and manipulation of financial statements. The regulator imposed a fine of Rs 28 crore each on Ashok Ghanshyamdas Rajani and Amrit Rajani (Chief Financial Officer of Seya), Rs 2 crore on Asit Kumar Bhowmik and Rs 50 lakh on Sivaprasada Rao Buddi, Sebi said in the final order passed on Friday. In a 122-page order, Sebi found that Seya Industries had siphoned off funds worth Rs 81.26 crore to companies related to promoter entities (Whiz Enterprises, Aneeka Universal and Shri Balaji Entertainments) on the pretext of purchases and sales from/to them and/or through undisclosed fund transfers during FY19, FY20 and FY21, thereby flouting norms. The money was routed through companies privately held by the family of Ashok Rajani, chairman and managing director (CMD), and CFO of Seya Industries Amrit Rajani. These transactions were not disclosed as related party transactions in Seya's financial statements, violating multiple Sebi's rules, the regulator said. Further, Seya Industries had misrepresented its financials for FY19 and FY20 through fictitious sales and purchases, thereby contravening the PFUTP (Prohibition of Fraudulent and Unfair Trade Practices) rules and disclosure norms. The accounting treatment of interest in FY20 to FY22 and quarter ended June, September and December 2022 by Seya was not in accordance with Indian Accounting Standards. However, Sebi clarified that with the pending insolvency proceedings against Seya and prevailing the IBC rules, no orders are being passed against the company (Seya) at this stage and the proceedings against it will be decided through a separate order by the regulator. The markets watchdog pointed out that the senior officials not only failed in their fiduciary duties but also actively participated in concealing fraud. The watchdog also found that Ashok Rajani, as CMD, was deeply involved in day-to-day affairs and was a signatory to the financial statements for FY19 to FY22, which were found to be misleading. "I note that Amrit Rajani, being CFO of the company and looking after the day-to-day affairs of the company, was a KMP of the company at the relevant time and thus, is responsible for the violations committed by the company," Sebi's whole time member Ananth Narayan G said in the order. Asit Kumar Bhowmik and Sivaprasada Rao Buddi were executive directors of Seya. They were responsible for ensuring that Seya was in compliance with all laws and the financials of the company were being represented in true and fair manner. However, they failed to do so which resulted in eroding the investors' confidence in the sanctity of the securities market. Therefore, Bhowmik and Buddi flouted PFUTP, insider trading and disclosure rules. Accordingly, the regulator has barred -- Ashok Rajani, Amrit Rajani, Asit Kumar Bhowmik and Sivaprasada Rao Buddi -- from the securities markets for five years as well as holding positions as directors or key managerial personnel (KMP) in any listed entity or Sebi-registered intermediary for five years. The Securities and Exchange Board of India (Sebi) has also directed Amrit Rajani to ensure that funds worth Rs 81.26 crore were siphoned off through promoter-related entities will be brought back to Seya Industries within six months, along with 12 per cent interest per annum from the date of transfer till repayment. The order came after Sebi received multiple complaints from SC India Fund Manager between 2020 and 2021, alleging private placement of securities based on inflated books. Thereafter, Sebi initiated an investigation and appointed Ernst & Young in September 2021 for a forensic audit after the company failed to cooperate with the NSE. The period of investigation was financial years ending March 2019, March 2020 and March 2021. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
