Financial Result for the 31st December 2023
Awaiting price reaction for this filing.
Bharati Defence and Infrastructure Ltd has submitted unaudited financial results for Q3 FY24 (quarter ended Dec 31, 2023), along with a back-series of unaudited results from June 2017 through March 2024 — nearly a decade of historical filings done together. The company recently emerged from a long insolvency and liquidation process under the IBC; new management took control after liquidation was formally concluded in January 2025. For Q3 FY24, the company reported negative revenue from operations of Rs 70.80 lakh and a net loss of Rs 866.40 lakh (EPS of negative Rs 1.72). For the full FY23, the company reported a massive loss of Rs 362.09 crore, driven by exceptional items including a Rs 272.66 crore closing stock write-off and Rs 78 crore of asset/fixed-asset losses. Reserves stand deeply negative at around Rs 578 crore. The statutory auditors (newly appointed on Jan 23, 2025) issued a limited review report explicitly stating they did not conduct the review in accordance with ICAI standards and that the results may not comply with applicable accounting standards.
This is a deeply distressed stock story — the company just emerged from liquidation with wiped-out reserves and years of unreliable financial records. The auditor's disclaimer means these numbers carry low assurance, and shareholders should treat the historical financials with caution. The filings are largely about regulatory catch-up after the resolution process, not about operational recovery.