Bkm Industries Limited has submitted to the Exchange, the financial results for the period ended March 31, 2022.
Awaiting price reaction for this filing.
BKM Industries (formerly Manaksia Industries) submitted its financial results for FY ended March 31, 2022 — nearly 4 years late because the company was under Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code. Manufacturing operations were completely shut during the period, with zero revenue from operations. The company reported a standalone net loss of ₹1,492 lakhs for FY22, wider than the ₹1,128 lakh loss in FY21, with loss per share of ₹(2.28). Total equity fell sharply from ₹2,910 lakhs to ₹1,418 lakhs, while current borrowings stood at ₹12,411 lakhs, giving a debt-equity ratio above 8x. Operating cash flow was negative at ₹(127) lakhs. The Resolution Plan has since been approved by NCLT, granting reliefs for past non-compliances, and the company has now regularised its listing obligations.
For shareholders, this filing is a post-facto disclosure of a deeply distressed period — zero revenue, widening losses, and crushing debt during CIRP. The approved Resolution Plan offers a path to revival, but the extremely thin equity base versus ₹12,411 lakhs of current borrowings signals significant dilution or restructuring risk for existing equity holders. Stock price may already reflect these developments given the 4-year delay.