Financial Result for 31 December 2017
Awaiting price reaction for this filing.
Bharati Defence and Infrastructure Ltd has finally filed its long-pending unaudited financial results for the quarter ended 31 December 2017, seven and a half years late. The company recorded a total revenue from operations of Rs. 52.67 lakhs for the quarter, against total expenses of Rs. 2,672.13 lakhs, resulting in a net loss of Rs. 2,612.11 lakhs. For the nine months ended December 2017, revenue was Rs. 597.46 lakhs with a loss of Rs. 8,782.59 lakhs, while the full-year FY17 loss stood at a massive Rs. 1,77,700.71 lakhs (~Rs. 1,777 crore). The results were prepared from liquidator records after the company underwent failed restructuring under IBC, entered liquidation from FY19-20, and only concluded liquidation in January 2025 before new management took over. The new statutory auditor explicitly stated they did NOT perform an independent review per ICAI standards and cannot provide any assurance on accuracy or completeness of these numbers.
These results are largely of historical value only — the underlying business has been liquidated and a new management is in control. The massive historical losses confirm the company's collapse, and the auditor's disclaimer means shareholders should not rely on these figures for any investment decision. The late filing itself signals severe governance and compliance failures over the past several years.