Financial Result for 31st March 2019
Awaiting price reaction for this filing.
Bharati Defence and Infrastructure (formerly Bharati Shipyard) has filed its unaudited financial results for FY2018-19 and Q4 FY19 with a massive delay (filed in August 2025, over 6 years late) along with a back-series of results from June 2017 to March 2024. For FY19, revenue from operations collapsed to ₹290.65 lakhs from ₹2,317.70 lakhs in FY18 — an 87% decline — while the company posted a net loss of ₹7,981 lakhs. Q4 FY19 was even worse, with negative revenue of ₹(1,482.67) lakhs and a loss of ₹3,541 lakhs. The balance sheet shows deeply negative shareholder funds of ₹(4,92,864) lakhs, indicating the company is effectively insolvent on paper. The company was under an Insolvency and Bankruptcy Code (IBC) Resolution Professional from FY16, entered liquidation in FY20, and only completed liquidation in January 2025 when new management took over. The new auditor (AKKocchar & Associates) explicitly stated the statutory audit for FY19 was never conducted and disclaimed providing any audit opinion or proper review.
This is a deeply distressed stock with no operational revenue, massive accumulated losses, and negative net worth. The new management is trying to regularize years of delayed filings after emerging from liquidation, but the underlying business appears non-viable. Existing shareholders face extreme dilution and value erosion risk; new investors should treat this as a high-risk speculation only.