Financial Result for the 30th June, 2022
Awaiting price reaction for this filing.
Bharati Defence and Infrastructure Ltd has filed its unaudited financial results for Q1 FY23 (quarter ended June 30, 2022), along with results from Q1 FY18 to FY24. The company posted a net loss of Rs. 1,338.70 lakhs in Q1 FY23 versus a loss of Rs. 1,222.34 lakhs in Q1 FY22, with revenue dropping sharply from Rs. 41.31 lakhs to Rs. 25.55 lakhs (a ~38% decline). The company underwent corporate insolvency resolution and then liquidation from FY20 through January 2025, after which a new management took control. The statutory auditor explicitly stated it did NOT conduct a review as per standard procedures (SRE 2410), relying only on management-provided information, and noted that no statutory audit was carried out for FY23. Cumulative reserves stand at a deeply negative Rs. 5,31,963 lakhs.
This filing is a delayed compliance catch-up from a company that just emerged from liquidation. The massive accumulated losses, negative reserves, auditor disclaiming a proper review, and the company's turbulent history make this a high-risk, speculative situation — investors should weigh these red flags carefully as the stock is now under new management with no clean audit trail.