K S Oils Limited has submitted to the Exchange, the financial results for the period ended March 31, 2020.
Awaiting price reaction for this filing.
K S Oils Limited submitted a large set of delayed financial results covering FY2017-18 through Q1 FY2025-26 to the stock exchanges, after being acquired by Soy-Sar Edible Private Limited under NCLT's liquidation process (order dated February 3, 2025). For FY2018-19 (audited), the company reported total income of just Rs 96 lakhs against a net loss of Rs 3,472 lakhs, with a deeply negative net worth of Rs (2,74,689) lakhs. The statutory auditor (Aditi Gupta & Associates) issued a Disclaimer of Opinion citing completely eroded net worth, continuous losses, unsecured loan treatment issues, and unverified payables/receivables. The auditor also highlighted that the company has not paid interest on secured bank loans of Rs 1,52,770 lakhs, and a forensic audit had flagged siphoning of funds and fraudulent related party transactions by the erstwhile management. The Board also approved the appointment of M/s NIG & Co as new statutory auditors, a new Executive Director, and a Secretarial Auditor, alongside calling nine consecutive AGMs to approve the years of accounts. The company, which was delisted in 2018, received NCLT approval for relisting in February 2025 and is currently in 'Suspended' status on BSE/NSE.
For shareholders, this filing represents a major clean-up exercise by the new acquirer (SEPL) to regularize years of pending compliance. The financial history shows the company was effectively insolvent with massive negative net worth and unresolved fraud, meaning pre-acquisition equity holders face near-total loss. The stock remains in 'Suspended' (not actively traded) status pending completion of relisting formalities, so there is no current price discovery.