Results - Half Yearly Financial Statements (Standalone & Consolidated) for 30th September, 2024.
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Cian Healthcare Ltd, currently under Corporate Insolvency Resolution Process (CIRP) since June 2024, reported deeply negative half-yearly results with management taken over by Resolution Professional Mr. Roshen Chordiya. On a standalone basis, the company posted a net loss of Rs. 1,552.01 lakhs (vs profit of Rs. 38.96 lakhs in FY24), with revenue from operations at Rs. 1,854.68 lakhs and EPS of -Rs. 6.21. Consolidated net loss was Rs. 1,825 lakhs with EPS of -Rs. 7.30. A one-time extraordinary item of Rs. 1,205.12 lakhs (inventory write-off) weighed on results. The statutory auditors SSRCA & Co issued a Disclaimer of Conclusion on both standalone and consolidated numbers, citing multiple issues including unverified creditor claims, missing balance confirmations, debt defaults, and material uncertainty on the going-concern assumption which depends on NCLT-approved Resolution Plan.
This is a strongly negative filing for shareholders — the company is in active insolvency, has defaulted on debt, posted large losses, and the auditor refused to give any conclusion on the numbers. Equity remains at risk pending NCLT's decision on the Resolution Plan, and trading in the stock is likely to remain volatile and illiquid.