Revised Financial Results with clarification letter for the quarter ended on 31.12.2024.
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Awaiting price reaction for this filing.
Noble Polymers Ltd, which was previously delisted from BSE, is submitting revised financial results as part of its revocation of delisting process. The company uploaded results in IND-AS format as specifically requested by BSE after a query. Results for the quarter ended 31 December 2024 show total income of Rs. 428.8 lakhs (other income only, with zero income from operations), and a net profit of Rs. 2.03 lakhs for the quarter. However, for the nine months ended 31 December 2024, the company reported a significant net loss of Rs. 346.78 lakhs, compared to a loss of Rs. 0.28 lakhs in the prior year. The board approved all quarterly results from June 2022 to December 2024 in a single meeting on 31 March 2025, and appointed M/s R B Gohil & Co as statutory auditors in a casual vacancy on 6 March 2025. The auditor issued an unqualified limited review report on the revised results.
For shareholders, this filing signals a deeply troubled company with negligible operating activity, mounting losses, and a history of compliance lapses (delisting, late filings, multiple restatements). The auditor change in casual vacancy and the need to restate prior periods in IND-AS format raise governance red flags, and the stock remains high-risk even if revocation of delisting is granted.