Please find attached Annual Report 2024-25 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 at the registered office in Sikandrabad, Agra. The company's revenue from operations declined to Rs. 1,505.19 lakhs from Rs. 1,967.09 lakhs in FY 2022-23, but net loss narrowed significantly to Rs. 312.73 lakhs from Rs. 838.24 lakhs. The company has two subsidiaries (Benara Solar Pvt Ltd and Securitrans Trading Pvt Ltd) and did not declare any dividend. The auditor issued a qualified opinion flagging delays in loan repayments, unprovided doubtful debts of Rs. 1,336.54 lakhs, and unconfirmed loans/advances of Rs. 1,142.48 lakhs. A one-time settlement with Axis Bank and Bandhan Bank reduced a Rs. 5,138 lakh outstanding to Rs. 3,000 lakhs, of which Rs. 752.20 lakhs was paid by March 2024.
Shareholders should note ongoing losses, though the loss has narrowed year-on-year. The auditor flagged a material uncertainty on the company's ability to continue as a going concern due to persistent losses and debt issues. No dividend was declared, and the stock trades on the BSE SME platform with limited liquidity.