Financial Result for 30th June 2020
Awaiting price reaction for this filing.
Bharati Defence and Infrastructure Ltd has finally filed its Q1 FY2021 (quarter ended June 30, 2020) results more than five years late, on August 14, 2025. The company was under the Corporate Insolvency Resolution Process (CIRP) and then liquidation from FY2020 to 2024, with new management taking control after liquidation was completed. For Q1 FY2021, the company reported revenue from operations of Rs. 38.52 lakhs and a net loss of Rs. 1,228.99 lakhs. The full-year FY2020 results show total revenue of Rs. 263.39 lakhs and a massive net loss of Rs. 6,281.25 lakhs, with reserves standing at a deeply negative Rs. 5,04,525.78 lakhs. The statutory auditors (AK Kocchar & Associates, appointed only on January 23, 2025) explicitly stated they did not conduct the review in accordance with standard review procedures, citing lack of supporting documentation and non-cooperation from the previous management.
Shareholders face a very high-risk situation: the company has enormous accumulated losses wiping out shareholder equity, has emerged from a long liquidation process under new management, and the filed results carry no auditor assurance. The stock remains highly speculative — past financial data is of limited reliability, and future performance depends entirely on the new management's revival plan.