Mcnally Bharat Engineering Company Limited has submitted to the Exchange, the financial results for the period ended March 31, 2025.
Awaiting price reaction for this filing.
McNally Bharat Engineering Company Limited reported audited standalone results for FY25 with revenue from operations of Rs. 10,492.36 lakhs, down sharply from Rs. 16,744.31 lakhs in FY24. The company posted a massive net loss of Rs. 1,71,608.57 lakhs for the year, with Q4 alone showing a loss of Rs. 99,896.82 lakhs. Net worth is deeply negative at Rs. (5,89,227.38) lakhs, and borrowings stand at Rs. 3,09,423.86 lakhs against cash of just Rs. 175.51 lakhs. Statutory auditors V. Singhi & Associates issued an Adverse Opinion, citing issues with trade receivables reconciliation, doubtful loans to VSPPL, and a material departure on deferred tax assets. The auditor also flagged a material uncertainty on the company's ability to continue as a going concern. Separately, 95% of existing share capital was extinguished under the NCLT-approved Resolution Plan, with BTL EPC Limited (via SPV Mandal Vyapar) emerging as the new 90% owner, while existing shareholders received only Rs. 0.01 per share as a goodwill payment.
Existing shareholders have been almost completely wiped out under the insolvency resolution plan, receiving only a token Rs. 0.01 per share. The stock remains a high-risk situation as the new promoter SRA is already delaying tranche payments, and the auditor's adverse opinion plus going concern doubt signal significant uncertainty going forward.