K S Oils Limited has submitted to the Exchange, the financial results for the period ended September 30, 2021.
Awaiting price reaction for this filing.
K S Oils Limited's board on August 12, 2025 approved a massive catch-up filing of standalone financial results covering FY2017-18 through Q1 FY2025-26, along with audit reports. The company had been under Corporate Insolvency Resolution Process (CIRP) since July 2017 after a petition by SREI Infrastructure Finance, and was acquired by Soy-Sar Edible Private Limited as a going concern via NCLT order dated February 3, 2025. For Q1 FY2021-22 (June 30, 2021), the company reported zero revenue from operations, total income of just Rs 5 lakhs, expenses of Rs 920 lakhs and a net loss of Rs 920 lakhs (EPS of Rs -0.20). The statutory auditor (Devesh Parekh & Co) issued a limited review with an Emphasis of Matter noting fully eroded net worth, current liabilities exceeding current assets, unsecured loans, unpaid bank interest of Rs 1,51,583 lakhs, and a forensic audit revealing fund siphoning by erstwhile management. The company also appointed Mr. Virendra Kumar Singhvi as Executive Director, M/s NIG & Co as new statutory auditors, and shifted its registered office. Stock status was changed from 'Delisted' to 'Suspended' on BSE/NSE w.e.f. May 5, 2025 as part of the relisting process, and 9 AGMs (31st through 39th) have been scheduled for September 2025.
This is largely a procedural catch-up filing as the company emerges from a 7+ year insolvency process following its acquisition by Soy-Sar Edible Private Limited. Historical numbers are bleak — zero operations, fully eroded net worth, and massive unpaid bank dues — but the going-concern assumption is now backed by the new acquirer. Existing shareholders should note the stock remains in 'Suspended' status on both exchanges (pending relisting), and the new management has disclaimed responsibility for pre-acquisition irregularities.