Huge losses and returns from profits: IPO financials raise questions

Among stock market IPOs, CMR Green Technologies’ financial track record over the last three financial years shows high volatility. The company reported a profit of ₹104 crore in FY23, while it suffered a huge loss of ₹838 crore in FY24, and a profit of ₹155 crore in FY25.

Despite returning to profit, the cumulative net loss over three years was ₹579 crore. Market analysts say such sharp fluctuations raise concerns about earnings stability, predictability and sustainability of future cash flows – important considerations for IPO investors looking to protect their investments.