K S Oils Limited has submitted to the Exchange, the financial results for the period ended December 31, 2017.
Awaiting price reaction for this filing.
K S Oils Limited has filed long-pending financial results, starting with the quarter and nine months ended December 31, 2017, after the company was acquired as a going concern by Soy-Sar Edible Private Limited (SEPL) following an NCLT order dated February 3, 2025. The company was under CIRP and then liquidation since 2017, was delisted in 2018, and is now classified as 'Suspended' on the exchanges. The newly appointed auditor (Aditi Gupta & Associates) issued a Disclaimer of Opinion, citing inability to verify inventory (Rs 922 lakhs), payables (Rs 15,465 lakhs), receivables (Rs 615 lakhs), and a history of suspected fraud by the erstwhile management found in a forensic audit. The results show massive losses — Rs 2,702 lakhs loss for the nine months ended December 2017 and Rs 57,850 lakhs loss for FY 2016-17 (including exceptional items of Rs 50,910 lakhs), with zero revenue from operations. The new board also appointed a new statutory auditor (M/s NIG & Co.), a secretarial auditor, an additional director, and called multiple AGMs (31st to 39th) to bring the company back into compliance.
Existing shareholders should note that these are very old, back-dated results submitted under a new management that explicitly disclaims responsibility for pre-acquisition irregularities; the stock remains 'Suspended' and the company's net worth was fully eroded at the time of these results, so the filing is largely a compliance catch-up exercise rather than a reflection of current operating performance.