K S Oils Limited has submitted to the Exchange, the financial results for the period ended December 31, 2018.
Awaiting price reaction for this filing.
K S Oils Limited has belatedly filed its unaudited financial results for the quarter and nine months ended December 31, 2018, with the results reviewed and approved by the Board on August 12, 2025. The company reported zero revenue from operations and a net loss of around Rs 854 lakhs for the September 2018 quarter (and Rs 1,714 lakhs for H1 FY19), as operations had been suspended following admission into the Corporate Insolvency Resolution Process (CIRP) in July 2017. The auditor (Aditi Gupta & Associates, newly appointed in May 2025) could not provide any conclusion on the financial statements due to inability to verify inventories, fixed assets, receivables/payables, and the absence of records from the erstwhile management. Forensic audit findings suggest the previous management siphoned funds and defrauded creditors; the company has been acquired as a going concern by Soy-Sar Edible Private Limited (SEPL) via an NCLT order dated February 3, 2025. The stock is currently in 'Suspended' status on NSE/BSE after relisting approval.
For existing shareholders, the filing itself does not change the financial reality of the company — losses are deep, net worth is fully eroded, and the stock remains in 'Suspended' status pending full relisting. However, the going-concern sale to SEPL and NCLT-backed relief from prior liabilities are positive structural developments, though the quality of historical numbers is highly questionable and the auditor issued no conclusion.