K S Oils Limited has submitted to the Exchange, the financial results for the period ended March 31, 2022.
Awaiting price reaction for this filing.
K S Oils Limited submitted unaudited and audited standalone financial results for an unusually wide range of periods (FY 2017-18 through Q1 FY 2025-26), along with auditor reports, in a single board meeting held on August 12, 2025. The company was admitted into Corporate Insolvency Resolution Process (CIRP) in July 2017, went through liquidation, and was acquired as a going concern by Soy-Sar Edible Private Limited following an NCLT order dated February 3, 2025. For Q1 FY 2021-22, the company reported zero revenue from operations, total expenses of Rs 920 lakhs (mostly depreciation), and a net loss of Rs 920 lakhs. The auditor (Devesh Parekh & Co.) issued an Emphasis of Matter noting continuous losses, completely eroded net worth, current liabilities exceeding current assets, and inability to verify receivables, payables, inventory, and fixed assets. The board also appointed Mr. Virendra Kumar Singhvi as Executive Director, M/s NIG & Co. as new statutory auditors for 5 years, and a new secretarial auditor, and fixed multiple back-to-back AGMs (31st to 39th) in September 2025 to clear the long-pending shareholder formalities.
For shareholders, this filing primarily clears a massive compliance backlog rather than signaling new business performance — the underlying numbers show a company with no operating revenue, fully eroded net worth, and unresolved fraud findings against the previous management. The recent acquisition by Soy-Sar Edible Private Limited and relisting approval (status changed from Delisted to Suspended in May 2025) could eventually enable share trading again, but the financials reflect a deeply distressed historical period and should not be read as evidence of a recovering business.