IMP Powers Limited informs the exchange about submission of integrated financials for the period ended on 31.03.2025.
Awaiting price reaction for this filing.
IMP Powers filed its audited FY25 results, but the auditor issued a qualified opinion with multiple qualifications. The company underwent IBC liquidation (admitted 16 Dec 2023) and was subsequently sold to the highest bidder as a going concern for Rs. 78 crore, with new management taking over. Standalone revenue fell sharply from Rs. 2,931 lakhs in FY24 to Rs. 1,325.95 lakhs in FY25, and the company reported a net loss of Rs. 211.87 lakhs (standalone) and Rs. 422.58 lakhs (consolidated) for the year. Net worth is completely wiped out at negative Rs. 26,997 lakhs (standalone) and Rs. 27,090 lakhs (consolidated), with borrowings of over Rs. 255 crore. Audit qualifications relate to going concern, non-provisioning of finance costs, unconfirmed trade receivables, unreconciled tax balances, and the absence of impairment testing despite ongoing financial losses. Customers also invoked bank guarantees worth Rs. 1.40 crore during the year.
This is a deeply distressed company that has been through corporate insolvency, and the qualified opinion, eroded net worth, and unresolved audit qualifications point to serious ongoing financial trouble. Shareholders face very high risk; the stock is a penny share with negative book value, though the new management's Rs. 78 crore takeover may be a turnaround attempt. Retail investors should treat this as a high-risk, speculative situation and watch for clarity on the final IBC distribution order and any capital restructuring.