Audited Financial Results March 2025
Awaiting price reaction for this filing.
The company (formerly Abhishek Corporation Ltd) reported total income of Rs. 793.70 lakhs against total expenditure of Rs. 1,313.76 lakhs for FY25, resulting in a net loss before exceptional items of Rs. 520.06 lakhs. Exceptional items of Rs. 2,008.16 lakhs (including losses from sale of its Fabric Manufacturing division and write-off of factory building) pushed the overall losses sharply higher, with negative EPS of Rs. 75.04 and negative net worth of Rs. 36.87 lakhs. The auditor issued a qualified opinion, flagging operating cash losses of Rs. 276.67 lakhs and disputed statutory dues of Rs. 13.13 lakhs — qualifications that have been repeating since FY 2009-10. The company is currently under the Insolvency and Bankruptcy Code (IBC) process and was sold as a going concern, with liabilities to be settled as per Section 53 of the IBC. Management is exploring new business opportunities and continues to prepare accounts on a going concern basis.
Shareholders face a deeply distressed situation with negative net worth, recurring losses, and an ongoing IBC process that will determine how remaining liabilities and proceeds are distributed. The stock is likely to remain volatile and under selling pressure until the insolvency resolution is finalized and the new business direction shows results.