Financial Result for the 30th September 2022
Awaiting price reaction for this filing.
Bharati Defence and Infrastructure (formerly Bharati Shipyard) submitted delayed unaudited financial results for Q2/H1 FY23 (ended September 30, 2022), originally prepared during the company's insolvency and liquidation process. Revenue from operations for H1 FY23 collapsed to just Rs. 57.21 lakhs versus Rs. 2,077.59 lakhs for full-year FY22. The company reported a net loss of Rs. 2,418.59 lakhs for H1 FY23 (basic EPS of Rs. -4.81). The auditor clarified that no statutory audit was conducted for FY 2022-23, the review was not done in accordance with ICAI standards, and the results are based solely on management-certified information. The IBC liquidation process formally concluded in January 2025, after which a new management took control. Reserves were massively negative at Rs. -5,34,177 lakhs.
These are historical results from a company that underwent complete insolvency and liquidation — the negative net worth (over Rs. 5,000+ crore deficit in reserves) confirms the entity was effectively defunct during this period. For shareholders, this filing is procedural housekeeping rather than actionable financial information; the new management now controls a stripped-down entity, and meaningful valuation must wait for the first truly current period results.