Announcement of Financial Results for the Quarter and Nine Month ended 31 December 2024 together with Limited Review Report during CIRP. No Board Meeting conducted. Announcement made by RP and CFO.
Awaiting price reaction for this filing.
Technofab Engineering has filed its delayed Q3 and nine-month results for the period ended 31 December 2024, about 8 months late. The company remains under Corporate Insolvency Resolution Process (CIRP) since 18 November 2022, with the Board suspended and results signed by the Resolution Professional and CFO instead. Revenue from operations fell sharply to ₹325.62 lacs in Q3 FY25 from ₹1,407.27 lacs in Q3 FY24, while nine-month revenue dropped to ₹4,521.04 lacs from ₹5,351.17 lacs. The company reported a Q3 loss after tax of ₹174.82 lacs and a nine-month loss of ₹1,865.19 lacs against negative net worth and ongoing loan defaults. The statutory auditor issued a Qualified Conclusion citing seven specific issues, plus an Emphasis of Matter on unquoted subsidiary investments worth ₹1,068.47 lacs.
This filing confirms the company remains in severe financial distress under insolvency with going-concern doubts, qualified audit opinion, and significant losses. Shareholders should note the high risk status, the absence of a functioning Board, and the fact that the audit report flags multiple unresolved accounting issues including unreconciled balances, missing gratuity provisions, and disputed receivables.