As attached
Awaiting price reaction for this filing.
The board of Arur Footwear Ltd (formerly S R Industries Ltd), currently undergoing rehabilitation from the Corporate Insolvency Resolution Process (CIRP), approved unaudited financial results for the quarter and half-year ended 30 September 2024 — a transitional period before new management took control in November 2024. The company reported zero revenue from operations during this period, with a net loss of Rs. 23.31 lakhs for the quarter and Rs. 46.28 lakhs for the half-year, largely driven by other expenses of Rs. 45.32 lakhs (H1). Despite the losses, the balance sheet strengthened significantly with the Successful Resolution Applicant (Bazel International Ltd) infusing Rs. 984.67 lakhs, turning total equity positive at Rs. 1,246.31 lakhs from a negative Rs. 3,252.62 lakhs earlier, and current borrowings falling to zero from Rs. 3,711 lakhs. The statutory auditor issued an unqualified limited review report, and the company stated these results were filed under a waiver application with BSE for prior late-filing penalties.
For retail investors, this filing is essentially a catch-up on a historically distressed stock: the company is still operationally dormant with no revenue, continues to report losses, and had negative operating cash flow of Rs. 139 lakhs. However, the CIRP-driven capital infusion has dramatically cleaned up the balance sheet, eliminated current debt, and restored positive equity — setting the stage for new management to revive the footwear business.