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 and Infrastructure Limited (formerly Bharati Shipyard) filed unaudited financial results for the quarter ended June 30, 2025, along with back-restated unaudited results for every quarter from June 2017 through March 2024. The company was under Corporate Insolvency Resolution Process (CIRP) and then liquidation from FY16 to January 2025, when the liquidation closure order was received and new management took control. The new statutory auditor (AK Kocchar & Associates) explicitly disclaimed performing a proper review under ICAI's SRE 2410 standard, citing non-audited FY23 books originally prepared by the Resolution Professional. The Q4 FY23 results show a net loss of Rs. 38,678.69 lakhs, driven by massive exceptional items including a Rs. 27,265.99 lakh closing stock write-off and Rs. 7,329.12 lakh loss on sale of fixed assets. Shareholders' equity is deeply negative at Rs. (5,77,962.42) lakhs, and reserves stand at Rs. (5,78,167.05) lakhs.
This is a deeply negative filing — the company emerged from liquidation with wiped-out shareholder equity, and the auditor's disclaimer means the historical numbers should be treated with low confidence. Existing shareholders face near-total equity erosion, and any near-term stock price action is likely to be highly volatile given the lack of audited reliable financials and a brand-new management and auditor setup.