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 filed a large set of long-pending unaudited financial results at its August 14, 2025 board meeting, covering Q1 FY2026 (June 30, 2025) together with back-dated quarterly results stretching from June 2017 to March 2024. The company had gone through the Corporate Insolvency Resolution Process and then liquidation from FY2020 to 2024, with liquidation formally concluded in early 2025 and new management taking charge. The statutory audit for FY2022 was never carried out, and the newly appointed auditors (AKKocchar & Associates) have explicitly stated they did not perform a review under the standard SRE 2410 and gave no assurance on the accuracy or completeness of the numbers. The visible results (for quarter ended September 30, 2021) show revenue of just Rs. 17.83 lakhs, a net loss of Rs. 1,209.75 lakhs, negative reserves of about Rs. 5,14,915 lakhs, EPS of Rs. (2.41), and negative operating cash flow of Rs. 953.19 lakhs.
The company is emerging from liquidation with deeply negative net worth, a history of incomplete financial records, and a limited review report that offers no assurance on the figures. Shareholders should view these results with extreme caution, as the auditor has clearly disclaimed responsibility for their accuracy and the business appears to have minimal operating activity. This raises serious going-concern and reliability concerns, though successful revival under new management could also present a turnaround story.