Please find attached Annual Report 2023-24 together with Notice of 33rd AGM
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Benara Bearings and Pistons Ltd has submitted its Annual Report for FY 2023-24 along with the notice for its 33rd Annual General Meeting, scheduled for September 30, 2024 at 11:00 AM in Agra. Revenue from operations fell sharply to Rs. 15.05 crore from Rs. 19.67 crore in the previous year, a drop of about 23%. The company posted a net loss of Rs. 3.13 crore, narrower than last year's Rs. 8.38 crore loss but still in the red for a second consecutive year. No dividend has been recommended. The auditor issued a qualified opinion and flagged a material uncertainty related to going concern, citing unpaid interest to lenders, unprovided doubtful debts of Rs. 13.37 crore, and unconfirmed loans and advances of Rs. 11.42 crore. The company also executed a one-time settlement with Axis Bank and Bandhan Bank, reducing a Rs. 51.38 crore outstanding to Rs. 30 crore.
Shareholders face continued losses, no dividend, and a going-concern flag from auditors, which are negative signals for the stock. The OTS with banks provides some debt relief, but unresolved audit qualifications and weak sales suggest near-term uncertainty for this SME-listed auto ancillary company.