K S Oils Limited has submitted to the Exchange, the financial results for the period ended March 31, 2019.
Awaiting price reaction for this filing.
K S Oils Limited has submitted its long-pending quarterly financial results for the first three quarters of FY2019 (June, September, and December 2018), which were originally due during the period the company was under Corporate Insolvency Resolution Process (CIRP) and later liquidation. During these quarters, the company generated zero revenue from operations and reported continuous losses of Rs 850 lakhs, Rs 854 lakhs, and (half-year cumulative) Rs 1,714 lakhs. Reserves are deeply negative at approximately Rs (2,73,904) lakhs, total borrowings stand at around Rs 2,90,048 lakhs, and the net worth has been completely eroded. The company was eventually acquired by Soy-Sar Edible Private Limited as a going concern following an NCLT order dated February 3, 2025, and a forensic audit found that the erstwhile management had syphoned off money and defrauded creditors. The auditor could not provide any conclusion on the financial statements due to multiple unverifiable items, and new auditors were appointed only in May 2025.
This is a historic, delayed filing covering the period when the company was insolvent and not operational, so it has limited relevance to the stock's current value. The stock remains in 'Suspended' status on both NSE and BSE (changed from 'Delisted' in May 2025), meaning it is not normally tradable. Original shareholders face significant risk of value erosion, while the new management under Soy-Sar Edible Private Limited now controls the company, and any relisting or revival will depend on fresh capital and operational revival plans that have not yet been disclosed.