In accordance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('SEBI LODR Regulations'), thisis to inform ....
Awaiting price reaction for this filing.
KSS Limited submitted its audited standalone and consolidated financial results for the quarter and year ended March 31, 2025 through the Resolution Professional, as the company remains under Corporate Insolvency Resolution Process (CIRP) since January 2023. Standalone loss narrowed to Rs. 60.52 lakhs in FY25 (from Rs. 73.42 lakhs in FY24), but revenue is negligible at just Rs. 1.45 lakhs. Consolidated loss stood at Rs. 288.71 lakhs with revenue from operations falling sharply to Rs. 200.11 lakhs (from Rs. 462.98 lakhs in FY24). The Resolution Plan was rejected by NCLT on March 24, 2025, and the Resolution Professional has filed an application for liquidation which is pending. The auditor issued a Disclaimer of Opinion citing inability to verify subsidiary investments, unconfirmed loans/advances of Rs. 1325.62 lakhs, and absence of fair value assessments.
Highly negative for shareholders — the rejection of the Resolution Plan and pending liquidation application put equity holders at serious risk of total loss. The company has a deeply negative net worth (other equity of Rs. -14,883.15 lakhs standalone), trading remains suspended on NSE since November 2020, and multiple pending tax/customs/SEBI demands totaling several crores create significant downside risk.