Outcome of Board Meeting held on June 01, 2026 inter alia for consideration and approval of Audited Financial Statements for the year ended March 31, 2020.
Awaiting price reaction for this filing.
Punj Lloyd Ltd's board approved the much-delayed audited financial statements for FY ended March 31, 2020, filed about six years late. The company reported a standalone net loss of Rs. 844.84 crores on revenue from operations of Rs. 1,411.88 crores, down nearly 16% from Rs. 1,675.58 crores in the previous year. The standalone balance sheet shows a completely eroded net worth of negative Rs. 13,843.08 crores against equity share capital of Rs. 67.12 crores. Cash loss for the year stood at Rs. 760.99 crores. The auditor (Kashyap Sikdar & Co.) issued a Qualified Opinion citing multiple unresolved issues, including non-compliance with Ind AS on inventory valuation, missing impairment assessment of property/plant/equipment, unreconciled statutory balances, and inability to confirm bank/receivable balances. An Emphasis of Matter paragraph flags material going-concern uncertainty, though the company was acquired by Adani Infra (India) Limited as a going concern following NCLT approval in February 2026. Note: the company's filing to BSE states the audit was issued 'without any modified opinion,' which contradicts the auditor's own Qualified Opinion.
This is a delayed compliance filing for a deeply distressed company already in liquidation, now acquired by Adani Infra. For existing shareholders, the negative net worth and CIRP/liquidation history mean the equity is effectively worthless, and any restructuring under Adani Infra will likely wipe out current shareholders. Minor traders should avoid this stock as it is a legacy listing with no operating future under current ownership structure.