Audited Standalone & Consolidated Financial Results for the quarter and year ended March, 2025 has been attached herewith.
Awaiting price reaction for this filing.
KDJ Holidayscapes and Resorts reported audited results for FY25 with very small total income of Rs. 1.37 lakhs against expenditure of Rs. 31.62 lakhs (standalone), resulting in a net loss of Rs. 42.22 lakhs, widening from Rs. 14.18 lakhs loss in FY24. On a consolidated basis, the loss was Rs. 73.69 lakhs. The statutory auditor (M/s. DD Shah Patel & Co.) issued a Disclaimer of Opinion, citing inability to verify numerous account balances including trade receivables, payables, fixed assets, borrowings, and bank balances. The company highlighted a one-time write-off of assets worth Rs. 1,932.27 lakhs and liabilities of Rs. 1,920.30 lakhs (exceptional loss of Rs. 11.97 lakhs) as per the NCLT-approved resolution plan dated March 4, 2025. The company has been through Corporate Insolvency Resolution Process (CIRP) since September 2019, with a successful resolution applicant taking over management.
The disclaimer of opinion signals serious concerns about financial reporting reliability. While the resolution plan approval is positive for the company's survival, the widening losses, asset write-offs, and inability of auditors to verify balances make this a high-risk stock. Shareholders face continued uncertainty despite the CIRP resolution.