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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Bihar Sponge Iron reported FY26 revenue of Rs. 2,455 lakhs (down 23% from Rs. 3,194 lakhs), with PAT of Rs. 113 lakhs (up 9% from Rs. 104 lakhs). The auditor issued a QUALIFIED OPINION citing four issues: (1) Rs. 215.28 lakhs SECL penalty unpaid with ongoing litigation, (2) Rs. 9,148 lakhs interest on Government of Jharkhand soft loan not provided pending waiver, (3) promoter loan settlement not quantified, and (4) Rs. 2,322 lakhs recoverable from Vanraj Steels whose operator abandoned the plant. Net worth stands at negative Rs. 340 lakhs. An NCLT petition was filed by Agarwal Coal Corporation (Rs. 1722 lakhs claimed) which the company disputes as belonging to Vanraj Steels.
The qualified opinion with negative net worth and undisclosed contingent liabilities signals significant financial stress. The NCLT petition adds legal uncertainty. Investors should exercise caution as the company may face going concern doubts.