Outcome of board meeting held on September 19, 2025
Awaiting price reaction for this filing.
The board approved unaudited standalone and consolidated financial results for the quarters ended June 30, 2024, September 30, 2024, and December 31, 2024, together with limited review reports from statutory auditor M/s. M Parashar & Co. The company was under Corporate Insolvency Resolution Process (CIRP) from December 2, 2021 to December 6, 2024, and is now implementing its approved Resolution Plan, including share allotment and re-listing. For Q3 FY25, revenue stood at Rs. 161.16 lakhs and the company posted a profit after tax of Rs. 17.09 lakhs, compared to a loss of Rs. 59.57 lakhs in Q3 FY24. For the nine months ended December 2024, PAT swung to Rs. 35.21 lakhs from a loss of Rs. 44.22 lakhs a year earlier. Auditor M Parashar & Co. issued clean (unqualified) limited review reports on all three quarters.
This is a significant turnaround filing — the company has returned to profitability after emerging from a multi-year insolvency process, and shareholders may see share allotment and re-listing activity as the Resolution Plan is implemented. However, equity remains deeply negative (around Rs. -11,000 lakhs) and debt of Rs. 4,175 lakhs in debentures is still on the books, so structural financial weakness persists despite the operational improvement.