Announcement under Regulation 30 (LODR) New paper cutting in paper of Results 31.03.2025 meeting dated 28.05.2025
Awaiting price reaction for this filing.
JBF Industries Ltd, which is under Corporate Insolvency Resolution Process (CIRP) since January 26, 2024, has published the extract of its audited standalone financial results for the quarter and year ended March 31, 2025 in Financial Express (English and Gujarati editions) on May 29, 2025, as required under SEBI LODR regulations. Manufacturing operations have been fully discontinued and the company's secured assets were repossessed by lenders (assigned to CFM Asset Reconstruction and then sold to Madelin Enterprises). The standalone results show negligible revenue from operations, a loss of approximately ₹268 lakhs for the quarter and ₹527 lakhs for the full year ended March 2025, with EPS of ₹0.02 for the quarter and ₹(0.64) for the year. The results carry repeated auditor qualifications flagging serious doubt on the going concern status, absence of CEO/CFO/Company Secretary, non-preparation of consolidated financials, and disputes including a corporate guarantee invocation of about USD 252 million by a lender of subsidiary JBF Petrochemicals. Resolution Professional Mukesh Verma signed the filing.
This is a routine regulatory compliance filing and offers no new information for shareholders. The company's situation remains deeply distressed — operations are shut, going concern is doubtful, CIRP is in progress with voting on resolution plans stayed by NCLAT, and multiple large legal disputes (including the invoked corporate guarantee) are pending. Existing shareholders are unlikely to see any recovery unless a resolution plan is successfully approved and implemented.