Financial Results June 2025
Awaiting price reaction for this filing.
IVRCL Limited, which is under liquidation since July 2019 by NCLT order, reported standalone revenue from operations of Rs. 726.53 lakhs for Q1 FY26, up from Rs. 620.51 lakhs in Q1 FY25. However, the company posted a massive net loss of Rs. 85,198.28 lakhs, almost entirely driven by Rs. 84,607.26 lakhs in finance costs (interest on borrowings during the liquidation period). Accumulated losses now stand at Rs. 21,39,107.14 lakhs and net worth is fully eroded. The statutory auditor issued a Disclaimer of Opinion, citing inability to obtain sufficient evidence on multiple items including deferred tax assets, trade receivables under dispute (Rs. 1,57,859.96 lakhs), subsidiary investments, and loans/advances. An Emphasis of Matter was also included regarding tax disputes and PF dues. The liquidation process has been extended till December 16, 2025, as the successful bidder has defaulted on payments after paying only Rs. 100 crores against the agreed Rs. 1,150 crores.
The results are largely cosmetic — the company's financial position is governed by the ongoing liquidation and sale process rather than operational performance. Shareholders face a near-total wipeout as net worth is fully eroded and the stock continues to trade on a distressed, liquidation-driven basis with the resolution bid collapsing.