Bkm Industries Limited has submitted to the Exchange, the financial results for the period ended December 31, 2022.
Awaiting price reaction for this filing.
BKM Industries (formerly Manaksia Industries) has finally filed its Q3 FY23 and 9M FY23 results, more than three years late, because the company was under Corporate Insolvency Resolution Process (CIRP) under the IBC, 2016. The company had zero revenue from operations during the period as its manufacturing facilities were non-operational, and reported a standalone net loss of Rs. 54 lakhs for the quarter and Rs. 169 lakhs for the nine months. Total assets stood at Rs. 17,902 lakhs, but current borrowings alone were Rs. 12,411 lakhs against total equity of just Rs. 1,250 lakhs, reflecting extreme financial stress. Operating cash flow was negative at Rs. (72) lakhs for the period, and the NCLT has since approved a Resolution Plan granting relief for past non-compliances.
This is largely a delayed compliance filing under a court-approved resolution plan rather than fresh positive news — the company is still in deep financial trouble with no operations, persistent losses, and a debt pile over 10 times its equity. Shareholders should treat this as a high-risk, distressed stock and expect continued volatility tied to the CIRP and resolution plan outcome.