Financial Result for 31st December 2020
Awaiting price reaction for this filing.
Bharati Defence and Infrastructure Ltd (formerly Bharati Shipyard) filed unaudited results for Q3 FY21 (Dec 2020) and nine-month period on August 14, 2025 — a delay of nearly 4.5 years. The company underwent Corporate Insolvency Resolution Process (CIRP) and subsequent liquidation (FY 2019-20 to 2024), with the liquidation order issued in January 2025 and new management taking control thereafter. The statutory audit for FY 2020-21 was never conducted due to incomplete and inconsistent financial records. The newly appointed auditor (AK Kocchar & Associates, effective January 23, 2025) explicitly disclaimed that the review was not performed in accordance with ICAI Standards. For Q3 FY21, the company reported a net loss of Rs. 1,276.21 lakhs on revenue of Rs. 74.50 lakhs (down from Rs. 90.49 lakhs in the previous quarter). Nine-month losses stood at Rs. 3,537.16 lakhs. Reserves were deeply negative at Rs. (5,04,525.78) lakhs as of March 2020, reflecting legacy insolvency-era liabilities.
This is a post-liquidation compliance catch-up filing rather than actionable financial information. The auditor's disclaimer, absence of statutory audit, and massive negative reserves signal serious going-concern and historical governance issues. Shareholders should treat these numbers as historical record-keeping rather than a basis for current valuation.