Financial Results 31st March, 2022
Awaiting price reaction for this filing.
Futura Polyesters Limited has submitted its audited financial results for FY22, approved by the Board on 10th July 2025 — a delay of over three years. The auditor issued a Qualified Opinion with a Material Uncertainty note on Going Concern. The company's net worth has been completely eroded, with other equity standing at negative Rs. 46,626.45 lakhs against total assets of just Rs. 12,577.41 lakhs. Total income collapsed from Rs. 1,547.16 lakhs to Rs. 7.58 lakhs (a ~99.5% decline) and the loss after tax widened to Rs. 560.90 lakhs from Rs. 460.42 lakhs. The polyester business has been discontinued since 2012, and the company went through NCLT winding-up proceedings before possession was returned in October 2023. A One Time Settlement (OTS) of Rs. 243.45 crores was accepted by consortium lenders in 2025.
This is a deeply negative filing for shareholders — the company is effectively a non-operating shell with fully eroded net worth, mounting losses, unprovided finance costs, and unresolved debt defaults. The qualified audit, going concern uncertainty, and reliance on OTS settlement mean the stock carries extreme risk and is unlikely to see value recovery for equity holders.