Banka BioLoo Limited has submitted to the Exchange, the financial results for the period ended March 31, 2025.
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Banka BioLoo reported FY25 standalone revenue of ₹5,500.03 lakhs, up about 10% from ₹4,997.45 lakhs in FY24. However, the company swung to a standalone net loss of ₹911.79 lakhs (vs. a profit of ₹48.25 lakhs in FY24) after booking a one-time exceptional provision of ₹719.65 lakhs tied to its wholly-owned subsidiary Enzotech Solutions Pvt Ltd. Enzotech has filed for voluntary Corporate Insolvency Resolution Process (CIRP) under the IBC, 2016, and the auditor flagged a material uncertainty about its ability to continue as a going concern. Net cash used in operating activities was deeply negative at ₹(807.35) lakhs. On a consolidated basis, the company posted a loss of ₹873.01 lakhs. The statutory auditor was changed from PRSV and Co LLP to B.D. Saboo & Associates, and new secretarial and internal auditors were appointed.
Despite top-line growth, shareholders are staring at a major loss driven by the subsidiary's insolvency-triggered write-off, weak operating cash generation, and a going-concern flag on the subsidiary — all of which raise fundamental risk concerns for the stock despite the clean (unmodified) audit opinion.