The Exchange had sought clarification from BIL VYAPAR LIMITED for the quarter ended 31-Mar-2025 with respect to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. On basis of above the Company was required to clarify the following: -1. Financial results submitted is not as per format prescribed by SEBI -2. Limited Review Report/ Independent Auditor's Report is not in the format prescribed by SEBI The response of the Company is enclosed.
BILVYAPAR · price
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Awaiting price reaction for this filing.
BIL Vyapar Limited (NSE: BINANIIND) resubmitted its audited standalone and consolidated financial results for the year ended 31 March 2025 after NSE flagged that the originals were not in machine-readable format and missed a balancing figure note on a consolidated basis. The company reported a standalone profit after tax of Rs. 681.19 lakhs for FY25, swinging from a loss of Rs. 584 lakhs in FY24, almost entirely due to a one-time write-back of Rs. 869.55 lakhs in royalty liability (an exceptional item). Real business activity was minimal, with total income of just Rs. 2.51 lakhs (vs Rs. 28 lakhs last year) and essentially zero sales. The auditor (V.P. Thacker & Co.) issued a qualified opinion and an emphasis of matter, flagging that the company's accumulated losses of Rs. 21,762.84 lakhs have fully eroded its Rs. 3,138.49 lakhs equity capital and its liabilities exceed total assets by Rs. 18,624.35 lakhs. Because there is no business plan, accounts have been prepared on a liquidation basis instead of a going concern basis.
This is a deeply negative filing for shareholders. The company is essentially insolvent on a balance sheet basis, its net worth is fully eroded, and financials are being prepared on a liquidation basis rather than going concern. The headline profit is artificial and driven solely by a one-time accounting write-back, not operations. Shareholders face significant risk of very little to no recovery, and the stock is likely to remain under severe pressure. Existing contingent exposures (corporate guarantees of Rs. 8,025 lakhs to Edayar Zinc and letter of comfort of Rs. 5,171 lakhs to BIL Infratech, plus ongoing NCLT proceedings) further threaten residual value.