Bkm Industries Limited has submitted to the Exchange, the financial results for the period ended December 31, 2021.
Awaiting price reaction for this filing.
Bkm Industries has submitted its Q3 FY22 (quarter ended December 31, 2021) financial results more than four years late, as the company was under the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016. The company reported zero revenue from operations in both standalone and consolidated results, as manufacturing activities were not operational during the period. It posted a standalone loss of Rs. 273 lakhs for the quarter and Rs. 837 lakhs for the nine months, with EPS of (Rs. 0.42) and (Rs. 1.28) respectively. The balance sheet shows total equity of just Rs. 2,073 lakhs against current borrowings of Rs. 12,411 lakhs, indicating a highly stressed financial position. Operating cash flow was negative at Rs. (90) lakhs, and the results were recast based on bank statements and information from the Resolution Professional.
These results confirm the company was effectively non-operational and financially distressed during this period, with revenue at zero, continuous losses, and debt far exceeding equity. For shareholders, this highlights extreme financial weakness; however, the submission is a compliance regularisation step following the NCLT-approved Resolution Plan, which may signal a path to recovery rather than fresh operating performance.