Outcome of Monitoring Committee held on 29.05.2025, for approval of 1st Quarter ended 30.06.2019 Unaudited Standalone & Consolidated Financial Results with Limited Review Report.
Awaiting price reaction for this filing.
The Monitoring Committee of Birla Cotsyn (India) Ltd, currently under liquidation, approved a large backlog of unaudited and audited standalone and consolidated financial results covering FY19 through FY25. For Q1 FY20 (quarter ended June 30, 2019), revenue from operations fell sharply to Rs. 581.55 lakhs from Rs. 2,255.68 lakhs in Q1 FY19, a drop of about 74%. The company posted a loss before tax of Rs. 264.80 lakhs for the quarter, with negative reserves of about Rs. 57,248 lakhs on a standalone basis. The NCLT Mumbai Bench has approved a Composite Scheme of Compromise and Arrangement (pronounced January 9, 2025), under which an acquirer will revive the company. The committee also approved a working capital infusion of Rs. 3 crore and decided to challenge demands raised by MIDC, NSDL, CDSL, and BSE for the CIRP/liquidation period.
This is a catch-up filing of long-pending results, so it does not reflect current business health. Shareholders should focus on the NCLT-approved revival scheme and the Rs. 3 crore working capital infusion as the key catalysts; however, deeply negative reserves and prior losses signal that any recovery for equity holders depends entirely on the terms of the compromise scheme.