Awaiting price reaction for this filing.
The company has filed its long-delayed unaudited financial results for the quarter and half-year ended 30 September 2024, blaming the delay on the ongoing transition after a change in management pursuant to an NCLT order approving Bazel International Limited as the resolution applicant in July 2024. The Board approved the results on 7 November 2025. Operationally, the company reported zero revenue from operations and only Rs. 0.34 lakh in other income for the half-year, with total expenses of Rs. 46.62 lakhs, leading to a net loss of Rs. 46.28 lakhs for H1 and Rs. 23.31 lakhs for the quarter. Earnings per share stood at Rs. (0.02) for H1 and Rs. (0.01) for Q2. The balance sheet shows total assets of Rs. 2,000.23 lakhs, but the company continues to be in the CIRP transitional phase with the new management yet to take full control. A waiver application has been filed with BSE to seek relief from penalties and listing fees for past non-compliances.
The stock remains a high-risk bet as the company has no operating revenue, is reporting fresh losses, and is still under the insolvency resolution process. The infusion of Rs. 984.67 lakhs from the resolution applicant has improved net equity from negative Rs. 3,252.62 lakhs to positive Rs. 1,246.31 lakhs, offering some revival hope, but shareholders should brace for further uncertainty until operations resume under the new management.