EDC Board approved consolidated financial statements of EDC limited for the FY 2024-25, eyes stronger Goa in 405th board meeting

Goa Khabar : In a spirited gathering yesterday, EDC Limited’s 405th Board Meeting under the leadership of Chairman Dr. Pramod Sawant approved its Consolidated Accounts and a host of governance measures, marking a fresh chapter in the company’s commitment to transparency and growth.

With all agenda items passed without dissent, the spotlight was firmly on the consolidated balance sheet, profit & loss account, and cash flow statement for FY 2024-25. The Consolidated Revenue for FY 2024-25 was Rs 137 crore whereas expenses were Rs 60 crore. The Consolidated Profit Before Tax was Rs 77crore. For the preceding year i.e. for FY 2023-24, the consolidated revenue stood at Rs119 crore, the consolidated expenses at Rs 49 crore and the Consolidated Profit Before Tax at Rs 69 crore. Directors’ report for the year was approved, and preparations for the 50th AGM were set in motion.

Dr. Sawant used the occasion to reiterate his vision of a Swayampurna Goa, urging EDC to lead by example in financial self-reliance and public trust. He called for stronger public awareness of the state’s development schemes, noting that institutions like EDC have a pivotal role in bridging the gap between policy and people. The Chairman underscored that “Swayampurna Goa” is not just a slogan but a mission — one that demands robust institutions, prudent finance, and inclusive growth. He encouraged the Board to back proposals that fuel Goan entrepreneurship and uplift marginalized communities.

A key resolution was action on RBI’s inspection and risk assessment findings, along with a risk mitigation plan, underscoring EDC’s resolve to fortify its financial health. Infrastructure matters such as the air-conditioning system in the EDC House were green-lit for execution.

The meeting’s tone was congenial but decisive, manifesting confidence in EDC’s future role in Goa’s development. Chairman Dr. Sawant praised the Board members for their commitment and emphasized that efficient execution of the approved measures will help position EDC as a benchmark NBFC in Goa. In closing, he expressed optimism that with collective will and sustained effort, Goa would edge closer to its vision of self-sustenance and resilient growth and EDC can play a key role in it.