K S Oils Limited has informed the Exchange about the Board Meeting held on August 12, 2025 to consider and approved the unaudited & Audited (Standalone) Financial Results for 2017-18
Awaiting price reaction for this filing.
K S Oils Limited's board, on August 12, 2025, approved a massive backlog of unaudited and audited standalone financial results spanning from FY2017-18 through Q1 FY2025-26, including the delayed 4th quarter and full-year results for FY2017-18. The company, which was admitted to CIRP in July 2017, went through liquidation, and was acquired as a going concern by Soy-Sar Edible Private Limited via NCLT order in February 2025, is now catching up on years of missed filings after being allowed to relist. The board also appointed Mr. Virendra Kumar Singhvi as Executive Director, M/s NIG & Co. as new Statutory Auditors for 5 years, and M/s Ranjeet Pandey & Associates as Secretarial Auditor. The auditor (Aditi Gupta & Associates) issued a Disclaimer of Opinion on FY2017-18 results, citing continuous losses, completely eroded net worth, unsecured loan treatment, unverified receivables of Rs 615 lakhs and payables of Rs 15,465 lakhs, and unpaid interest on secured bank loans of Rs 1,52,770 lakhs. Forensic audit findings flagged the erstwhile management for alleged fund siphoning and defrauding of creditors. Net loss for FY2017-18 stood at Rs 57,850 lakhs (including Rs 50,910 lakhs exceptional item), with no revenue from operations during the period.
For shareholders: this is a regulatory catch-up exercise rather than a new earnings story. The financials reflect a pre-acquisition, insolvent company with massive losses and auditor disclaimers, so these results have no predictive value for future performance. The relisting status is currently 'Suspended' on BSE/NSE, and investors should note that the new management (Soy-Sar Edible) is not responsible for pre-acquisition irregularities. Trading will likely remain thin and volatile given the long history of insolvency, forensic findings of fraud by previous management, and pending NCLT matters.