K S Oils Limited has submitted to the Exchange, the financial results for the period ended December 31, 2019.
Awaiting price reaction for this filing.
K S Oils Limited, which was acquired by Soy-Sar Edible Private Limited (SEPL) as a going concern via NCLT order dated February 3, 2025, has cleared a major compliance backlog by submitting unaudited and audited financial results for FY2017-18 through Q1 FY2025-26. The company is essentially a shell under new management after going through CIRP, liquidation, and e-auction, and has applied for relisting on NSE and BSE (currently in 'Suspended' status since May 5, 2025). Revenue from operations was zero during the reported period, with the company showing a net loss of Rs 3,472 lakhs for FY2019, negative net worth of Rs 2,74,689 lakhs, and continuous erosion of capital. The statutory auditor (Aditi Gupta & Associates) issued a Disclaimer of Opinion on FY2019 results, citing inability to verify payables, receivables, inventory, fixed assets, and noting forensic audit findings of fund siphoning by erstwhile management. The Board also appointed a new statutory auditor (M/s NIG & Co.), a new executive director (Mr. Virendra Kumar Singhvi), and a secretarial auditor, and approved notices for nine pending AGMs (31st to 39th).
This is largely a housekeeping compliance filing by the new management to clear years of pending disclosures before the relisting process advances. Existing shareholders should note that the underlying business has no operating revenue, carries a deeply negative net worth, and the prior auditor flagged disclaimer-level concerns with severe data integrity issues. The stock remains suspended and tradeable only after exchanges complete the relisting process, and the historical financial picture is bleak for legacy equity holders.