1. The Audited Financial Results of the Company for the last quarter & year ended March 31, 2025 2. Reduction of Equity Share Capital by way of cancellation and extinguishment of existing ....
Awaiting price reaction for this filing.
The board met on May 29, 2025 and approved audited results for FY25. Total income was just Rs 13.55 lakhs and the company reported a massive net loss of Rs 7,237.38 lakhs, driven primarily by exceptional items of Rs 6,008.32 lakhs. The company emerged from the Corporate Insolvency Resolution Process (CIRP) after the NCLT approved Mercury Terra Firma's resolution plan on November 27, 2024. As part of the resolution, equity share capital is being restructured: all existing promoter shares stand cancelled, public shareholders will be reduced to 6 shares for every 100 held (retaining only about 5% stake), and Mercury Terra Firma will be allotted roughly 1.2 crore fresh equity shares giving it about 95% ownership. Total assets collapsed from Rs 11,537 lakhs to Rs 569 lakhs, and networth turned negative at Rs (3,605) lakhs. The auditor (K P J & Co.) issued a qualified opinion with an emphasis of matter on the IBC resolution plan, and noted the company had no ongoing business activity as of March 31, 2025. Ms. Riddhi Shah was appointed as Secretarial Auditor for 5 years (FY26–FY30).
Existing public shareholders face severe dilution, retaining only ~5% of the restructured company. The effective change of control to Mercury Terra Firma (new 95% owner) means the stock now represents a freshly restructured entity with no active operations yet, negative networth, and a qualified audit opinion—stock price reaction is likely to be highly volatile on resumption of trading.