Kridhan Infra Limited has informed the Exchange about Addendum
KRIDHANINF · price
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Kridhan Infra reported audited FY24 results with a standalone loss of Rs. 2,501.29 lakhs (improved from Rs. 5,000.27 lakhs loss in FY23) and a consolidated loss of Rs. 2,512.50 lakhs. The company's net worth is fully eroded, with negative other equity of Rs. 37,273.68 lakhs (standalone) and Rs. 37,431.25 lakhs (consolidated). An exceptional item of Rs. 2,577.74 lakhs (standalone) was booked, mainly on account of impairment of investment in the associate company Vijay Nirman. The auditor issued a qualified opinion due to non-provision of interest on NPA-classified bank borrowings, pending a One Time Settlement (OTS) with lenders. Standalone operating cash flow was negative at Rs. -689.82 lakhs. The Singapore subsidiary is under liquidation, and the associate's net worth is fully eroded.
This is a high-risk filing — the company is technically insolvent with fully eroded net worth, and its survival depends on the success of the ongoing OTS with lenders. The qualified audit opinion and going concern uncertainty make this a speculative situation; existing shareholders face significant dilution or restructuring risk if the settlement falls through.