Bkm Industries Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2021.
Awaiting price reaction for this filing.
BKM Industries (formerly Manaksia Industries) has submitted its Q1 FY22 results (quarter ended 30 June 2021) roughly five years late, as the company was under the Corporate Insolvency Resolution Process (CIRP) under the IBC. The results show zero revenue from operations because manufacturing activities were not operational during the quarter. The company reported a net loss of Rs 273 lakhs, slightly wider than the Rs 147 lakh loss in the preceding quarter (Q4FY21) but narrower than the Rs 316 lakh loss in the year-ago quarter (Q1FY21); loss per share was Rs 0.42. The balance sheet remains stressed, with total borrowings of about Rs 13,182 lakhs against equity of only Rs 2,637 lakhs (debt-equity ratio of roughly 5x). Operating cash flow was marginally negative at Rs (2) lakhs. The delayed filing has been regularized under an NCLT-approved Resolution Plan, which provides immunity for past non-compliances.
This is a historical, belated disclosure meant to regularize compliance under the insolvency resolution plan rather than a reflection of current performance. With zero revenue, continuing losses, and a highly leveraged balance sheet, shareholders face significant uncertainty about the company's post-resolution revival prospects. The stock is likely to remain thinly traded and risky until fresh operating results are filed.