K S Oils Limited has submitted to the Exchange, the financial results for the period ended September 30, 2023.
Awaiting price reaction for this filing.
K S Oils Limited, which was admitted to the Corporate Insolvency Resolution Process (CIRP) in July 2017 and subsequently liquidated, has finally filed its long-pending financial results spanning eight financial years (FY 2017-18 to Q1 FY 2025-26) following its acquisition by Soy-Sar Edible Private Limited as a going concern via an NCLT order dated February 3, 2025. For the quarter ended June 30, 2023, the company reported zero revenue from operations and a loss of Rs 904 lakhs, while for H1 FY24 (Sep 30, 2023) it posted a loss of Rs 687 lakhs on total income of Rs 150 lakhs. The statutory auditor, Devesh Parekh & Co., issued an Emphasis of Matter noting that the company's net worth is completely eroded, current liabilities exceed current assets, and it could not verify several balance sheet items, ultimately stating it was 'unable to obtain evidence' and did not provide any conclusion on the quarterly results. The new management also appointed a new Executive Director (Mr. Virendra Kumar Singhvi), a new statutory auditor (M/s NIG & Co.), a new secretarial auditor, and called multiple AGMs (31st to 39th) all scheduled in September 2025 to clear the historic backlog.
This is a housekeeping/compliance catch-up filing by the new owners rather than a reflection of current operations — the company was delisted in 2018, acquired as a going concern in early 2025, and is currently in 'Suspended' status on BSE/NSE awaiting relisting. Shareholders should note the deep historical losses, completely eroded net worth, and the auditor's disclaimer of conclusion, though the going-concern basis assumption post-acquisition suggests the new management intends to revive the edible oil business.