Pursuant to Regulation 30 and 33 read with schedule III of SEBI (LODR) Regulations, 2015, we hereby inform you that the BOD at the meeting held on 30.05.2025 inter alia, considered and ....
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Aanchal Ispat Limited's board, on 30 May 2025, approved audited results for FY25. The company emerged from a lengthy Corporate Insolvency Resolution Process (CIRP), with NCLT Kolkata approving a resolution plan on 27 March 2025 and new promoter Mukesh Goel taking over management in early April 2025. Revenue from operations rose sharply to Rs. 15,130.13 lakhs in FY25 from Rs. 10,534.70 lakhs in FY24 (about 43.6% growth). However, the company posted a loss before exceptional items of Rs. 535.39 lakhs. It reported a net profit of Rs. 1,220.63 lakhs for FY25 (vs. a loss of Rs. 624.81 lakhs in FY24) driven entirely by one-time exceptional items, including a net gain of Rs. 3,938.29 lakhs from liability settlement under the IBC plan and a write-off of Rs. 5,085.80 lakhs towards irrecoverable trade receivables, loans and advances. The auditor flagged multiple Emphasis of Matter issues, including material going-concern uncertainty, absence of a CFO and Company Secretary during the year, declining net worth over five years, and that 91.49% of purchases and 86.66% of sales were with related party Maina International Ltd. Operating cash flow was negative at Rs. (267.70) lakhs.
For shareholders, this marks a post-CIRP turnaround with the IBC plan extinguishing large liabilities, but the reported profit is driven entirely by one-time exceptional items rather than core operations, which remain loss-making. Heavy dependence on a single related party (Maina International Ltd), ongoing going-concern emphasis, and negative operating cash flow mean the stock remains a high-risk bet despite the headline swing to profit.