K S Oils Limited has submitted to the Exchange, the financial results for the period ended September 30, 2024.
Awaiting price reaction for this filing.
K S Oils Limited has submitted a massive catch-up filing of financial results for eight financial years (FY2017-18 through FY2025-26), including unaudited and audited standalone results. The company was admitted to Corporate Insolvency Resolution Process (CIRP) in 2017, was delisted by NSE/BSE in 2018, and was recently acquired by Soy-Sar Edible Private Limited through an NCLT-approved auction in February 2025. The stock status was changed from 'Delisted' to 'Suspended' effective May 5, 2025. The board also appointed Mr. Virendra Kumar Singhvi as Executive Director, M/s NIG & Co. as new Statutory Auditors (replacing Devesh Parekh & Co), and a new Secretarial Auditor. Multiple AGMs (31st to 39th) have been scheduled through September 2025.
Despite the formal relisting approval, the financials reveal the company is in severe distress — zero revenue from operations, net worth completely eroded, losses of Rs 904 lakhs in Q1 FY24 alone, and unpaid bank loans of Rs 1,51,583 lakhs. The auditor explicitly declined to provide any conclusion on the financial statements. Shareholders should view this as a high-risk situation with the stock currently in 'Suspended' status; trading will remain restricted until full relisting clearance is obtained from the exchanges.