Annual Report for quarter ended 31.03.2021
Awaiting price reaction for this filing.
Birla Transasia Carpets Ltd filed its 46th Annual Report for FY ended March 31, 2021. The company reported total income of Rs. 16.81 lakhs, down sharply from Rs. 25.77 lakhs in the previous year — a decline of roughly 35%. It posted a net loss of Rs. 41.33 lakhs for FY21, although losses narrowed from Rs. 87.47 lakhs in FY20. The company carries secured loans of Rs. 23.13 crore against negligible revenue. BSE suspended trading in the company's shares since July 2017 due to non-compliance with SEBI depository regulations, and the company was historically referred to BIFR in 1991. The statutory auditor (Joshi Chhadva & Co LLP) issued an unqualified opinion but flagged a key audit matter regarding the sale of fixed assets, noting the matter does not modify its opinion.
This is a distressed, loss-making micro-cap with suspended BSE trading, minimal revenue, and debt far exceeding operations. Shareholders cannot trade the stock on the exchange, and the going-concern situation remains concerning given accumulated losses and very weak cash generation. Highly risky and not suitable for retail investors.