Audited Financial Statements for the Quarter and Year ended 31.03.2025
Awaiting price reaction for this filing.
JBF Industries, currently under Corporate Insolvency Resolution Process (CIRP) since January 2024, reported audited FY25 results with total income of just Rs. 8 lakhs versus Rs. 195 lakhs last year, as all manufacturing operations remain shut. The company posted a net loss of Rs. 527 lakhs for FY25 (EPS Rs. -0.64), but this figure is understated because management has provided zero interest on borrowings of Rs. 2,47,379 lakhs since NCLT admission. If interest were booked at the documented rate, the actual net loss would balloon to Rs. 39,988 lakhs, with cumulative unprovided interest now at Rs. 1,56,150 lakhs. The auditor issued a qualified opinion and explicitly stated the company "ceases to continue as a going concern." Other equity stands deeply negative at Rs. -2,93,462 lakhs, and key positions of CEO, CFO and Company Secretary remain vacant.
This is a deeply distressed stock in active insolvency. Shareholders face near-total wipeout risk given negative net worth, halted operations, unresolved lender disputes (including a Rs. 32.94 crore TMBL SARFAESI demand and a USD 252 million invoked corporate guarantee), and resolution plan voting stayed by NCLAT. Any value recovery depends on the CIRP outcome, but the magnitude of unprovided liabilities and contingent claims is severe.