Audited standalone financial results for the quarter and year ended March 31, 2022
Awaiting price reaction for this filing.
The board approved audited standalone financial results for FY22 along with several pending quarterly results, filed late after a board meeting on June 12, 2025. The company has been under Corporate Insolvency Resolution Process (CIRP) since June 2019 and was ordered into liquidation in October 2020; operations have been suspended since Q4 FY19. In December 2024, M/s. Grow House Agro Limited emerged as the successful bidder in the e-auction, received the sale certificate on March 1, 2025, and installed a new board. Revenue from operations was zero across all reported quarters, while the auditor (N.K. Sarraf & Associates) issued a Disclaimer of Opinion citing inability to obtain sufficient evidence and noting multiple uncertainties including suspected fraud, unreconciled balances, and unpaid statutory dues. Net worth is deeply negative at around Rs. (29,520) lakhs, and a full-year FY21 loss of Rs. (638.24) lakhs was reported.
For existing shareholders, this is effectively a closure of an old chapter: the original operating business is defunct, net worth is fully eroded, and the auditor could not even form an opinion on the numbers. The listing now sits with a new promoter (Grow House Agro Limited), so any real investment thesis depends entirely on the new owner's plans rather than these historical results.