K S Oils Limited has submitted to the Exchange, the financial results for the period ended March 31, 2018.
Awaiting price reaction for this filing.
K S Oils Limited, which was acquired by Soy-Sar Edible Private Limited as a going concern via NCLT order dated February 3, 2025, has submitted a large batch of delayed financial results covering FY2017-18 through FY2024-25 along with multiple AGM notices. The new statutory auditor (Aditi Gupta & Associates, appointed May 2025) issued a Disclaimer of Opinion on the FY2017-18 audited results, citing inability to verify inventory, receivables, payables, and fixed assets, and could not form a conclusion on the Q3 FY18 limited review. Key historical numbers: revenue from operations was effectively zero during the reported period as the company was under CIRP, with a 9-month loss of Rs 2,702 lakhs and a full-year FY18 loss of Rs 57,850 lakhs (including exceptional items of Rs 50,910 lakhs). A forensic audit found that the erstwhile management had allegedly siphoned funds and defrauded creditors, and secured loans of Rs 1,52,770 lakhs remain unpaid with interest not provided. The board also approved the appointment of a new Executive Director (Mr. Virendra Kumar Singhvi) and called AGMs for each pending year.
For shareholders, this is a procedural catch-up filing rather than new operating news — the company is emerging from a multi-year insolvency process. Shares remain suspended (moved from Delisted to Suspended in May 2025 pending relisting), so there is no active trading. The Disclaimer of Opinion and unresolved forensic findings highlight that the historical financials cannot be fully relied upon, and outcomes from pending NCLT proceedings may affect creditor recoveries. The new management has been granted immunity from pre-acquisition liabilities, which is a positive for the relisting path.