Auditor''s Report and Audited Financial Results for the Quarter/Year ended on 31st March 2025
Awaiting price reaction for this filing.
Insilco Limited, which is under voluntary liquidation since June 25, 2021, filed audited results for FY25. The company reported a loss after tax of Rs. 283 lakhs versus a profit of Rs. 3,136 lakhs in FY24, which was boosted by one-time gains of Rs. 3,371 lakhs from sale of Gajraula plant assets and Rs. 551 lakhs from miscellaneous income. There is zero revenue from operations as the only manufacturing plant has been shut since October 2019 after pollution control authorities refused consent to operate. Total income was only Rs. 224 lakhs, all from interest on bank deposits. The company distributed Rs. 287 million (Rs. 4.58 per share) of liquidation proceeds to shareholders in March 2025, bringing equity share capital down from Rs. 6,272 lakhs to Rs. 3,399 lakhs. Cash and bank balances fell sharply from Rs. 3,836 lakhs to Rs. 981 lakhs (cash plus other bank balances). The auditor issued a qualified opinion, noting the financials were not prepared on a going concern basis and flagging pending labour court cases from 36 ex-employees disputing their voluntary retirement.
This is largely a closing-stage update for a company being wound up — BSE trading has been suspended since October 2022 and most shareholders have already received Rs. 4.58 per share in liquidation proceeds. Remaining steps are settling the pending employee claims, depositing uncashed amounts with IBBI, and filing the dissolution application with NCLT. No further business value or dividend potential remains for shareholders.