Financial Result for 30th Septmber 2018
Awaiting price reaction for this filing.
Bharati Defence and Infrastructure Ltd filed its delayed Q2 FY19 and H1 FY19 results on 14 August 2025, years after the period ended, following the completion of its CIRP and liquidation process. For the quarter ended 30 September 2018, revenue from operations collapsed to just Rs. 97.24 lakhs from Rs. 1,617.21 lakhs in the previous quarter, while the company posted a net loss of Rs. 1,801.62 lakhs (EPS of Rs. -3.58). For H1 FY19, total income was Rs. 1,934.50 lakhs against a net loss of Rs. 2,397.55 lakhs, with negative operating cash flow of Rs. 398 lakhs. Shareholders' funds are deeply negative at Rs. (4,87,281) lakhs, indicating total balance sheet erosion. The auditor, AK Kocchar & Associates, explicitly stated that the statutory audit for FY18-19 was never conducted, financial records were incomplete and inconsistent, and the limited review was NOT performed in accordance with ICAI Standards on Review.
This is a highly negative filing for shareholders. The company shows near-zero operations, massive accumulated losses wiping out equity, and the auditor has disclaimied a proper review. Stock price is likely to remain under severe pressure and any recovery depends entirely on the new management's revival plan, as the prior business was clearly unviable.