Declaration of Financial Results in pursuance of implementation of Resolution Plan Approved by NCLT.
Awaiting price reaction for this filing.
BKM Industries Ltd (formerly Manaksia Industries Ltd) has belatedly submitted its unaudited financial results for the quarter and half-year ended 30 September 2022, approved by the Board on 28 March 2026. The delay is attributed to the company being under the Corporate Insolvency Resolution Process (CIRP) under the IBC, 2016, with a Resolution Plan subsequently approved by the NCLT. The results reveal zero revenue from operations, zero other income, and total expenses of ₹58 lakhs for the quarter, resulting in a net loss of ₹57 lakhs (EPS of negative ₹0.09). The company explicitly states that manufacturing activities were not operational during the quarter and half-year. Total borrowings stand at ₹13,182 lakhs against shareholder equity of just ₹1,304 lakhs, and the auditor (Prabhat & Co) has only conducted a Limited Review.
This is a deeply negative filing for shareholders. The company has zero revenue, is non-operational, is posting continuous losses, carries extremely high leverage (debt roughly 10x equity), and is emerging from insolvency. The results are also significantly delayed (over three years late), which highlights weak governance and compliance. Existing shareholders face substantial uncertainty about recovery, and the stock is likely to remain highly risky and illiquid.