as attached
Awaiting price reaction for this filing.
Arur Footwear Ltd (formerly S R Industries) filed its delayed unaudited results for the quarter and half year ended September 30, 2024, prepared during the ongoing Corporate Insolvency Resolution Process (CIRP). Revenue from operations was zero, with total income of just Rs 0.34 lakhs coming solely from other income for H1 FY25. The company reported a net loss of Rs 46.28 lakhs for H1 FY25 versus Rs 10.01 lakhs loss for FY24, translating to a basic EPS of Rs -0.02. The balance sheet shows a major turnaround in equity (from negative Rs 32.53 crore to positive Rs 12.46 crore) after Bazel International injected Rs 9.85 crore as the successful resolution applicant. The company also had negative operating cash flow of Rs 139.42 lakhs for H1 FY25, but closing cash improved to Rs 707.42 lakhs from Rs 3.30 lakhs.
These results pertain to the transitional phase before new management took full control in November 2024, so they reflect a non-operational period and have limited read-through to the stock's future performance. Investors should focus on forthcoming quarters under the new management to gauge actual business revival, while noting the existing losses and the still-pending CIRP completion.