K S Oils Limited has submitted to the Exchange, the financial results for the period ended September 30, 2019.
Awaiting price reaction for this filing.
K.S. Oils Limited, now acquired by Soy-Sar Edible Private Limited (SEPL) as a going concern under an NCLT order dated February 3, 2025, has filed a bulk set of unaudited and audited standalone financial results spanning FY 2017-18 through Q1 FY 2025-26. The company had been under Corporate Insolvency Resolution Process (CIRP) since July 2017, was delisted in 2018, and has recently had its status changed to 'Suspended' on BSE/NSE from May 5, 2025 as it pursues relisting. For FY ending March 31, 2019, total income was a mere Rs. 96 lakhs against expenses of Rs. 3,568 lakhs, producing 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 with an Emphasis of Matter flagging continuous losses, fully eroded net worth, inability to verify receivables/payables, and suspect transactions by the erstwhile management. The new board also appointed a new statutory auditor (M/s NIG & Co.), a new secretarial auditor, a new executive director (Mr. Virendra Kumar Singhvi), and cleared AGM notices for the 31st to 39th AGMs in a single sweep.
The shares remain suspended (not yet relisted), so this is largely a procedural catch-up filing by the new management rather than a fresh operating update. Existing shareholders should note that the underlying business shows zero revenue from operations during the reported period, severe negative net worth, and a disclaimer of opinion from the auditor – reflecting a company that was effectively restructured under insolvency rather than one generating normal operations.