Outcome of Monitoring Committee Meeting held on 29.05.2025, for approval of 3rd Quarter and Nine Month ended 31.12.2023 Unaudited Standalone & Consolidated Financial Results with Limited ....
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Birla Cotsyn (India) Ltd's Monitoring Committee, chaired by Liquidator Anil Goel, met on May 29, 2025 and approved unaudited standalone and consolidated financial results covering Q3 and nine months ended December 31, 2023, along with a long backlog of quarterly and annual results from FY2018-19 through FY2024-25. The company, which has been in liquidation since September 2019 following failed CIRP, reported zero revenue from operations and only marginal other income of Rs 0.04 lakh for Q3 FY24 and Rs 1.43 lakh for the nine-month period, posting a standalone loss of Rs 175.76 lakh for the quarter and Rs 526.23 lakh for nine months. Reserves remain deeply negative at around Rs (67,322) lakh standalone and Rs (64,163) lakh consolidated. The committee also approved a Rs 3 crore working capital infusion under the approved scheme and decided to file an application with NCLT against demands raised by MIDC, NSDL, CDSL and BSE for the CIRP/liquidation period.
Shareholders should note that operations remain completely halted with zero revenue and persistent losses, but the NCLT's January 2025 approval of the Composite Scheme of Compromise and Arrangement has allowed accounts to be prepared on a going concern basis, signaling potential revival. The Rs 3 crore working capital infusion and ongoing legal actions may affect near-term shareholder value, but the stock remains highly speculative given the deeply negative reserves and long history of liquidation.