🧠 At a glance
Atmastco Ltd reported a strong revenue of ₹28,957 lakh and profit after tax of ₹1,928.38 lakh in FY25 — a decent growth from ₹1,634.56 lakh last year. But what really stole the spotlight? The auditor’s subtle mic drop: “Inventory records are half manual, half magical. We gave up.” This is what happens when a growing EPC company forgets to grow its Excel sheet hygiene.
🏢 About the Company
Atmastco Ltd is a steel goods and EPC (Engineering, Procurement & Construction) specialist based out of Bhilai, Chhattisgarh. They also have a fancy-sounding subsidiary called Atmastco Defence Systems Pvt Ltd which, as per this year’s report, is the equivalent of an unused gym membership — all promise, zero revenue.
Their business spans:
- Steel fabrication
- Industrial goods trading
- EPC contracts
- Defence manufacturing (…at least on paper)
They operate under two business segments:
- Manufacturing / Fabrication
- Services (likely EPC)
👨💼 Key Managerial Personnel (KMP)
| Name | Role |
|---|---|
| Venkataraman Ganesan | Managing Director |
| Swaminathan Iyer | Director & CFO |
While Ganesan signs the balance sheet, Iyer
signs off on the inventory valuations… or at least tries to.
📊 FY25 Financials Breakdown
Here’s a side-by-side comparison of Atmastco’s financial performance:
Consolidated Profit & Loss
| Particulars | FY25 (₹ lakh) | FY24 (₹ lakh) |
|---|---|---|
| Revenue from Operations | 28,957.04 | 22,400.57 |
| Other Income | 70.84 | 107.85 |
| Total Revenue | 29,027.88 | 22,508.42 |
| EBITDA | 3,420.66* | 2,723.57* |
| Depreciation | 371.70 | 445.52 |
| Finance Cost | 1,238.73 | 1,229.80 |
| PBT | 2,746.94 | 2,278.43 |
| Tax Expense | 944.99 | 671.48 |
| Profit After Tax (PAT) | 1,928.38 | 1,634.56 |
| EPS (Diluted) | ₹7.80 | ₹8.24 |
*EBITDA approximated by adding PBT + Depreciation + Finance Cost – Other Income
Balance Sheet Snapshot
| Item | Mar 31, 2025 (₹ lakh) | Mar 31, 2024 (₹ lakh) |
|---|---|---|
| Total Assets | 42,211.56 | 29,087.06 |
| Net Worth | 12,724.77 | 10,796.39 |
| Total Liabilities | 29,486.79 | 18,290.67 |
| Inventory | 13,723.91 | 9,118.77 |
| Trade Receivables | 16,342.28 | 8,423.45 |
| Cash & Cash Equivalents | 4,906.01 | 5,841.33 |
💰 Segmental Revenue FY25
| Segment | Revenue (₹ lakh) | Profit Before Tax (₹ lakh) |
|---|---|---|
| Manufacturing/Fabrication | 24,444.77 | 1,627.88 |
| Services (EPC, etc.) | 4,512.27 | 300.49 |
| Total | 28,957.04 | 1,928.38 |
So yes, the steel side is strong. But the “services” side? Let’s just say it’s being serviced.
🤯 Auditor Roast: “Where’s the Inventory Bro?”
The auditor’s report has more drama than a season
