Impex Ferro Tech Limited has informed the Exchange regarding Board meeting held on July 23, 2025.
IMPEXFERRO · price
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Awaiting price reaction for this filing.
Impex Ferro Tech Limited reported audited results for FY25 with revenue from operations collapsing to just Rs. 20.79 lakhs from Rs. 2,750.21 lakhs in the previous year, resulting in a net loss of Rs. 706.59 lakhs. The company is under Corporate Insolvency Resolution Process (CIRP) since May 2024, and the Resolution Professional has signed off the results since the Board's powers are suspended. The auditor (V.K. Tulsyan & Co. LLP) issued a qualified opinion, flagging non-provision of cumulative interest of Rs. 63,020.22 lakhs on borrowings, unconfirmed trade balances, and a material uncertainty on the company's ability to continue as a going concern because net worth is fully eroded and liabilities far exceed assets. Total claims admitted by the Resolution Professional stand at over Rs. 130,000 lakhs, with one H1 resolution bidder already declared. The manufacturing plant at Kalyaneswari has been shut since October 2022 due to power disconnection, and statutory dues of Rs. 292.92 lakhs are in arrears.
This is a deeply negative filing. Existing shareholders face significant risk of dilution or write-down as the company is in insolvency and the resolution plan (with an H1 bidder already in place) will determine the future of the stock. The qualified audit opinion, fully eroded net worth, and the huge gap between admitted creditor claims and book values suggest equity holders may receive little to nothing in any resolution outcome.