Pursuant to Regulation 30 and 33 of the SEBI (LODR) Regulations, 2015, the Board of Directors in their meeting dated 02.08.2025 inter alia, considered and approved the un-audited Financial ....
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Aanchal Ispat reported Q1 FY26 (quarter ended June 30, 2025) unaudited results with revenue from operations of Rs 2,267.10 lakhs, a sharp ~48% decline from Rs 4,398.88 lakhs in the same quarter last year. Profit after tax came in at Rs 4.74 lakhs, boosted by exceptional items of Rs 1,255.38 lakhs relating to CIRP-related liability write-offs, irrecoverable dues written off, and CIRP costs. The company recently emerged from insolvency — the NCLT Kolkata approved its Resolution Plan on March 27, 2025, a new board took over on April 10, 2025, and the share capital has been restructured with promoters now holding 95% and public 5%. The auditor flagged several emphasis-of-matter issues, including the going concern assumption despite accumulated losses, substantial related party transactions with sister concern M/s Maina International Limited (33.30% of purchases and 22.36% of sales), non-compliance with SEBI LODR during CIRP (no CS/CFO appointed), and BSE penalties of Rs 6.82 lakhs disclosed as a contingent liability. Shares remain suspended from trading pending BSE approval of the restructuring.
The steep revenue drop combined with reliance on one-time exceptional items to show profit suggests weak underlying operations, which is a red flag for investors. Trading remains halted, and the 95% promoter holding post-restructuring drastically reduces public float and liquidity — shareholders face uncertainty until BSE grants approval and trading resumes.