Financial Results
Awaiting price reaction for this filing.
IVRCL Limited, which has been under liquidation under the IBC since July 2019, filed its audited FY25 results through the Liquidator (N. Sutanu Sinha), as powers of the board remain suspended. The company posted a massive net loss of Rs. 3,07,567.96 lakhs for FY25 and Rs. 81,111.88 lakhs for Q4 FY25, taking accumulated losses to Rs. 20,53,908.86 lakhs. Net worth is fully eroded at negative Rs. 17,97,704.46 lakhs, against fund-based debt obligations of about Rs. 22,17,943 lakhs and total income of only Rs. 5,638.79 lakhs (down from Rs. 8,069.51 lakhs in FY24). The statutory auditor (Chaturvedi & Co. LLP) issued a Disclaimer of Opinion—declining to express any view—along with an Emphasis of Matter on tax, EPF and GST disputes. The attempted sale as a going concern remains stalled after a successful e-auction bidder failed to pay, with the liquidation timeline now extended by NCLT to December 16, 2025.
Shareholders face a near-total wipeout: equity is fully eroded, the auditor could not verify asset values or recoveries, and the company is being wound up rather than revived. Multiple unresolved GST (Rs. 25,436 lakhs), income tax, and EPF demands, plus the failed bidder process, mean the stock continues to carry extreme going-concern and realisation risk.