Results for the half year ended Sep 2024
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Benara Bearings and Pistons reported a deeply negative set of audited results for the half year ended September 30, 2024, with net sales of just Rs 502.10 lakhs (vs Rs 601.56 lakhs in the prior-year half) and a net loss of Rs 2,186.63 lakhs (EPS of Rs -12.35). Reserves turned sharply negative at Rs -2,045.96 lakhs, wiping out shareholders' funds to Rs -275.23 lakhs — net worth is now negative. The statutory auditor (Agrawal Jain & Gupta) issued a disclaimer of opinion, flagging unverifiable inventory of Rs 1,977 lakhs, doubtful recovery of non-current assets of Rs 1,401 lakhs and long-term loans/advances of Rs 1,170 lakhs, and short-term borrowings of Rs 5,051.85 lakhs that have been classified as NPAs with the company pursuing a one-time settlement (OTS) with banks. The auditor also highlighted cash losses of Rs 1,163 lakhs and material uncertainty over the going-concern assumption.
Highly negative — shareholders are staring at a company with negative net worth, mounting NPAs, an auditor disclaimer, and going-concern doubts. The stock is likely to face significant pressure; the change in IPO objects via postal ballot and senior management reshuffle (Company Secretary out, new CFO in) suggest the company is scrambling to raise funds and restructure. Existing investors face substantial risk of further dilution or value erosion.