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 submitted its unaudited Q1 FY26 (quarter ended June 30, 2025) results, along with a massive backlog of previously unfiled quarterly and annual results spanning from Q2 FY18 through Q4 FY24 — a catch-up filing of nearly 7 years of pending disclosures. The company had been under Corporate Insolvency Resolution Process (CIRP) and then liquidation from FY20 to 2024, with liquidation formally concluded in January 2025 and new management taking control thereafter. The Limited Review Report enclosed by the new auditor (AKKocchar & Associates, appointed January 23, 2025) is for the old quarter ended September 30, 2019, and the auditor explicitly states they did not conduct a proper review, citing lack of supporting documentation, incomplete and inconsistent financial records, and non-cooperation from the previous management. Historical financials shown in the filing reveal revenue from operations collapsed to Rs. 76.03 lakhs in Q2 FY20 from Rs. 1,609.22 lakhs a year earlier, with a net loss of Rs. 1,498.65 lakhs for the quarter and Rs. 7,981.18 lakhs for FY19. Shareholders' funds are deeply negative at Rs. (4,95,261.95) lakhs, and operating cash flows were negative at Rs. (399.51) lakhs for H1 FY20.
This is a high-risk situation for shareholders. The auditor has effectively disclaimed any assurance on the financial results, the company carries massively negative net worth after emerging from liquidation, and these filings relate to periods under the previous (now-failed) management. Investors should treat the historical numbers with extreme caution and wait for the new management's audited FY26 results before drawing any conclusions about the company's current financial health.