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 (formerly Bharati Shipyard) filed unaudited financial results for the quarter ended June 30, 2025, along with restated unaudited results covering the period from Q2FY18 to Q4FY24. The company underwent Corporate Insolvency Resolution Process (CIRP) from FY16 to FY20 and was in liquidation from FY20 to 2024, with liquidation formally completed in January 2025 and new management taking control. The historical figures show near-zero manufacturing activity, with core segments (ships, rigs, manufacturing) reporting no revenue. The company posted a net loss of Rs. 1,276.21 lakhs for Q3FY21, Rs. 3,537.16 lakhs for 9MFY21, and Rs. 6,281.25 lakhs for FY20, with negative reserves of Rs. 5,04,525.78 lakhs. The new statutory auditor (AK Kocchar & Associates, appointed January 23, 2025) explicitly stated they did not conduct a review in accordance with ICAI standards and provided no assurance, citing lack of supporting documentation and the absence of a statutory audit for FY21.
This is essentially a regulatory catch-up filing required for the company to remain listed after emerging from liquidation. Shareholders should note the deep financial distress shown in historical results, the disclaiming auditor's report, and the fact that meaningful business revival under new management has yet to be demonstrated. Near-term stock action could remain volatile given the weak fundamentals and lack of auditor assurance.