K S Oils Limited has submitted to the Exchange, the financial results for the period ended September 30, 2018.
Awaiting price reaction for this filing.
K S Oils has filed its long-pending financial results for Q2 and H1 FY19 (ended September 30, 2018), which are being submitted by the newly reconstituted board after the company's acquisition by Soy-Sar Edible Private Limited via NCLT order dated February 3, 2025. The company reported zero revenue from operations for the quarter and only Rs 2 lakhs for the half year, with total expenses of Rs 883 lakhs in Q2. It posted a loss before tax of Rs 854 lakhs for the quarter and Rs 1,714 lakhs for the half year, translating to a loss per share of Rs 0.19. The auditor (newly appointed in May 2025) flagged multiple issues including completely eroded net worth, current liabilities exceeding current assets, Rs 1,52,770 lakhs of unpaid bank loan interest, and inability to verify several balance sheet items. The forensic audit had found that the erstwhile management ran the business with intent to siphon funds and defraud creditors. The shares are currently in 'Suspended' status on NSE/BSE pending relisting approval.
This is largely a delayed compliance filing for an already-acquired insolvent company, so it has limited direct impact on shareholders. However, it highlights that the old equity is deeply worthless (reserves at negative Rs 2,73,904 lakhs), and any future investor value will depend entirely on the new management's ability to revive operations under the Soy-Sar Edible umbrella. Existing shareholders have effectively been wiped out.