Financial Result for 31st March 2018
Awaiting price reaction for this filing.
Bharati Defence and Infrastructure Ltd (formerly Bharati Shipyard) has filed its delayed unaudited financial results for Q4 and FY ending March 31, 2018, more than 7 years late, as part of a broader backfiling exercise covering Q2 2017 through Q4 2024. The company underwent Corporate Insolvency Resolution Process (CIRP) and subsequent liquidation under the IBC, with the liquidation closure order received on January 14, 2025, after which new management took control. For FY18, revenue from operations fell to Rs 2,317.70 lakhs from Rs 2,943.05 lakhs in FY17, while the company posted a massive net loss of Rs 1,77,700.73 lakhs (after deferred tax adjustment), with EPS of negative Rs 353.29. The balance sheet shows deeply negative shareholders' funds of Rs (4,84,883.24) lakhs and other current liabilities of over Rs 9,40,000 lakhs, while operating cash flow was negative at Rs (1,711.98) lakhs.
This is a historic disclosure from a company that has effectively been through insolvency and liquidation. The numbers reflect extreme financial distress with a wiped-out net worth and massive accumulated losses. For current shareholders, the filing largely closes a regulatory gap for the new management post-liquidation and is unlikely to have material impact on stock price, but it highlights why the stock was suspended and the company underwent IBC proceedings.