Bharati Defence and Infrastructure Limited has informed the Exchange regarding Board meeting held on August 14, 2025.
Awaiting price reaction for this filing.
Bharati Defence filed a large batch of unaudited financial results, including the quarter ended June 30, 2025, and historical periods stretching back to June 2017. The reported numbers are deeply negative: the company posted a loss of Rs 2,418.59 lakhs for H1 FY23 (ended September 2022) and a loss of Rs 18,039.21 lakhs for FY22. Total revenue collapsed to just Rs 67.24 lakhs in H1 FY23, down from Rs 2,245.11 lakhs for full-year FY22. Shareholders' funds are massively negative at around Rs (5,29,002) lakhs, meaning liabilities far exceed assets. The new statutory auditor, AK Kocchar & Associates (appointed January 23), explicitly stated they did not perform a proper review under ICAI standards and that the results may not comply with applicable accounting standards and could contain material misstatements. The company had gone through the IBC insolvency process and liquidation, which concluded in 2024-2025, after which new management took control and is now back-filing these long-pending results.
Extremely negative for shareholders — the results confirm the company is effectively insolvent with negative net worth of over Rs 5,290 crore, chronic losses, near-zero revenue, and negative operating cash flow. The auditor's disclaimer that results may be materially misstated further undermines confidence in the reported numbers. Existing equity holders face a high risk of total loss, and the stock should be treated as highly speculative penny-stock territory.