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 (formerly Bharati Shipyard) submitted unaudited financial results for the quarter ended June 30, 2025, along with a long-overdue set of restated results covering quarters from June 2017 through March 2024, all approved at a board meeting on August 14, 2025. The company went through the Corporate Insolvency Resolution Process (CIRP) and was under liquidation from FY20 until the process was formally concluded in January 2025, after which new management took control. The limited review report from newly appointed auditors AK Kocchar & Associates explicitly states it was not conducted per standard review procedures, citing lack of supporting documentation, failed takeover attempts, and non-cooperation from the previous management. The numbers reflect a deeply distressed company: for Q1 FY21 (June 30, 2020), revenue from operations was just Rs 38.52 lakhs against a net loss of Rs 1,228.99 lakhs, with accumulated reserves deeply negative at Rs (5,04,525.78) lakhs as of March 31, 2020.
This filing is largely a regulatory catch-up exercise after the company's exit from liquidation. Shareholders should note the company is emerging from insolvency with massive historical losses, negative reserves, and a history of non-cooperation by the previous management — the new management will need to demonstrate a credible turnaround plan before the stock rerates.