Intimation of revision of the disclosure dated May 11, 2026, regarding Un-audited Standalone and Consolidated Financial Results of the Corporate Debtor for the quarter and half year ended ....
Awaiting price reaction for this filing.
SKIL Infrastructure Limited, under Corporate Insolvency Resolution Process (CIRP) since February 2024, has filed revised unaudited financial results for Q2 FY2025 (ended September 30, 2024). The consolidated results show a massive net loss of Rs 2,60,453.35 lakh (vs. profit of Rs 2,154.12 lakh in Q2 FY2023) driven primarily by an exceptional item of Rs 2,60,445.26 lakh due to impairment of investment in Urban Infrastructure Holdings Pvt. Ltd. (UIHPL) following a 99.76% capital reduction approved by NCLT in March 2025. The standalone results reflect an exceptional loss of Rs 3,05,175.40 lakh. Auditors have issued a qualified conclusion citing: (a) uncertainty over CIRP claims vs. book values, (b) going concern doubts, (c) unreconciled intercompany balances of Rs 19.07 lakh, (d) improper deconsolidation timing of SKIL Shipyard Holdings, and (e) inability to verify cash/bank balances. The company received Rs 16,003.34 lakh from UIHPL capital reduction and reversed Rs 2,259.10 lakh accrued interest as an exceptional item.
The company is in severe financial distress with negative equity of Rs 2,40,401.90 lakh on standalone basis. Multiple auditor qualifications and emphasis of matter on going concern uncertainty signal very high investment risk. The resolution plan outcome will determine the company's survival.