BIL VYAPAR LIMITED has submitted to the Exchange, the financial results for the period ended December 31, 2025.
BILVYAPAR · price
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BIL Vyapar Limited (formerly Binani Industries Limited) submitted its unaudited financial results for the quarter and nine months ended December 31, 2025, under Corporate Insolvency Resolution Process (CIRP) initiated by the NCLT Kolkata Bench on November 13, 2025. The Board of Directors' powers are suspended and a Resolution Professional (Ms Rachna Jhunjhunwala) is now in charge. The statutory auditor, TLB & Co, issued a Disclaimer of Opinion on both standalone and consolidated results, citing multiple unresolved matters including pending corporate guarantees, disputed land valuations, sub-judice cases, and unrecovered letters of comfort. Key numbers: total income of Rs 2,270 lakhs for the nine months, a loss after tax of Rs 144.15 lakhs (against a profit of Rs 681.19 lakhs in the prior year), accumulated losses of Rs 21,906.99 lakhs that have fully eroded the company's paid-up equity of Rs 3,138.49 lakhs, and liabilities exceeding total assets by Rs 18,768.50 lakhs. The auditor explicitly stated the going concern assumption is not appropriate, and the results have been prepared on a liquidation basis. Contingent liabilities include Rs 8,025 lakhs corporate guarantee for Edayar Zinc Ltd and Rs 5,171.20 lakhs letter of comfort for BIL Infratech Ltd, with only Rs 2,149.10 lakhs provisioned as loss allowance.
This is severely negative for shareholders. With the company formally under CIRP and financials prepared on a liquidation basis, equity holders are likely to receive little to nothing in any resolution. The fully eroded net worth, disclaimer of audit opinion, and large unresolved contingent liabilities from erstwhile subsidiaries indicate extremely high risk. The stock is highly illiquid and faces significant delisting risk; retail investors should treat this as effectively a distressed/terminal situation.