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, which is currently under Corporate Insolvency Resolution Process (CIRP) initiated in May 2024, reported zero revenue from operations for Q3 FY25 and just Rs. 20.79 lakhs for the nine-month period, against Rs. 2,750.21 lakhs a year earlier. The company posted a net loss of Rs. 182.80 lakhs in Q3 FY25 and Rs. 525.19 lakhs for nine months, with accumulated losses of Rs. 45,528.5 lakhs that have fully eroded its net worth. The auditor (V.K. Tulsyan & Co. LLP) issued a qualified opinion citing non-provisioning of cumulative interest of Rs. 63,020.22 lakhs on borrowings, unreconciled receivables/payables, and provisioning issues worth Rs. 707 lakhs. The auditor flagged material uncertainty about the company's ability to continue as a going concern, and noted that statutory dues of Rs. 295.51 lakhs are in arrears, the manufacturing plant has been shut since October 2022, and a resolution plan has been submitted with an H1 bidder declared.
This filing paints an extremely weak picture for shareholders. With net worth fully eroded, no operating revenue, the manufacturing plant shut down, and admitted creditor claims of over Rs. 1.3 lakh lakhs vastly exceeding the company's books, the stock is effectively in play only via the CIRP resolution process. Equity holders face near-total wipeout risk unless the resolution plan delivers meaningful value, and trading should be treated as highly speculative.