In continuation of our letter dated 09.09.2025 we wish to inform you that the Liqudator of the Company at a meeting held today has inter alia approved the audited Financial Statements (Standalone ....
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Punj Lloyd Ltd, currently in liquidation, has had its audited financial statements for FY2018-19 (year ended March 31, 2019) approved by the Liquidator Mr. Ashwini Mehra at a meeting held on September 16, 2025. The company was admitted to CIRP in March 2019 and a liquidation order was passed by NCLT in May 2022. Standalone revenue from operations collapsed to Rs. 1,675.58 crores from Rs. 4,059.49 crores in the previous year, a drop of nearly 59%. The company posted a massive loss of Rs. 12,488.63 crores for the year (against a profit of Rs. 317.36 crores previously), driven by Rs. 1,928.55 crores in bank guarantee encashments and large provisions. Net worth is deeply negative at Rs. 12,702.69 crores and current liabilities of Rs. 14,739.78 crores vastly exceed current assets of Rs. 1,321.15 crores. The auditor (Kashyap Sikdar & Co.) issued a qualified opinion with multiple qualifications and an emphasis of matter flagging material uncertainty over going concern.
These are delayed, historical FY2019 results filed years after the fact during ongoing liquidation — they have no direct bearing on current trading or shareholder value. Existing shareholders are very unlikely to recover anything meaningful, as the company is being wound up and accumulated losses have fully eroded net worth.