Revised Financial Results with clarification letter for the quarter ended on 30.09.2024.
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Awaiting price reaction for this filing.
Noble Polymers, a delisted company now seeking revocation from BSE, submitted a clarification letter along with revised Ind-AS compliant financial results for the quarter and half-year ended 30 September 2024. The company had a large backlog of unaudited results spanning June 2022 to December 2024, all approved in one board meeting on 31 March 2025 with a newly appointed auditor (R. B. Gohil & Co., casual vacancy on 6 March 2025). For Q2 FY25 (ended 30.09.2024), the company reported nil operating income, negative total income of about ₹173.50 lakh, and a net loss of ₹147.74 lakh, though the first half of FY25 overall showed a net profit of ₹312.74 lakh on total income of ₹376.92 lakh. The balance sheet swung sharply positive, with reserves moving from negative ₹329.16 lakh (Sept 2023) to ₹307.33 lakh (Sept 2024) on a ₹324 lakh equity infusion. Operating cash flow was negative at ₹237.21 lakh, offset by equity raised in financing activities.
This is largely a compliance catch-up filing from a previously delisted micro-cap regaining its listing status, so it has limited immediate price impact. Investors should note the highly erratic numbers (operating income near zero, mixed profit/loss across periods), the change of statutory auditor during the year, and negative operating cash flow, which together flag governance and business continuity concerns worth monitoring.