Outcome of Monitoring Committee Meeting held on 29.05.2025, for approval of 4th Quarter and Financial Year ended 31.03.2024 Audited Standalone & Consolidated Financial results with Audit ....
Awaiting price reaction for this filing.
Birla Cotsyn's Monitoring Committee (under liquidation) approved long-pending audited standalone and consolidated financial results for FY2018-19 through FY2023-24, plus unaudited quarterly results for Q1–Q3 of FY2024-25. The company is under liquidation since September 2019 after failed CIRP, but the NCLT Mumbai Bench has now approved a Composite Scheme of Compromise and Arrangement (pronounced 09.01.2025, uploaded 14.01.2025), which revives the company. The committee also approved infusion of Rs. 3 Crore as working capital under the scheme and decided to move NCLT against demands raised by MIDC, NSDL, CDSL and BSE for the CIRP/liquidation period. FY2024 results show zero revenue from operations, a standalone net loss of Rs. 703.72 lakh (vs Rs. 466.91 lakh loss in FY23), deeply negative reserves of around Rs. (66,657) lakh, and negative operating cash flow. Auditor PSV Jain & Associates gave an unqualified opinion, stating accounts are prepared on a going concern basis given the NCLT-approved revival scheme.
For shareholders, this is a landmark filing: the NCLT-approved revival scheme is the key positive trigger that could lead to the company coming out of liquidation and resuming operations. However, the financials remain extremely weak — zero revenue, widening losses, deeply negative net worth, and several years of pending audits — so near-term business performance is poor and stock remains high-risk and thinly traded. Investors should focus on the revival scheme execution and the Rs. 3 Cr working capital infusion rather than current earnings.