Board Meeting held on 14.08.2025 in which the Board inter alia considered and approved Unaudited financial results of the Company (Standalone and Consolidated) for the quarter ended on 30th June,2025.
Awaiting price reaction for this filing.
Jiya Eco-Products' Board, at its meeting on 14 August 2025, approved the unaudited financial results for Q1FY26 (quarter ended 30 June 2025) on both standalone and consolidated basis. Standalone results show revenue from operations at nil and a loss before tax of Rs 8.10 lakhs, widening from a loss of Rs 4.59 lakhs in Q1FY25. Consolidated loss stood at Rs 8.87 lakhs. The company's operations have been suspended since 19 May 2021 and it has been under the Corporate Insolvency Resolution Process (CIRP) since April 2023, with a Resolution Professional currently in charge. The statutory auditor, Chandabhoy & Jassoobhoy, issued a Limited Review Report with a 'Basis for Disclaimer of Opinion,' explicitly flagging material uncertainty about the company's ability to continue as a going concern and stating it could not express an opinion on the financial statements due to lack of sufficient audit evidence on multiple items including assets, receivables, payables, and inventory.
This is a deeply negative filing for shareholders. The company is a non-operational entity under IBC insolvency proceedings, continues to post losses, and the auditor has disclaiming the financial statements due to pervasive uncertainty. Shareholders face substantial risk of equity erosion depending on the outcome of the CIRP and any approved resolution plan; the stock is effectively in distressed territory.