Outcome of Monitoring Committee meeting held on 29.05.2025, for approval of 2nd Quarter and half year Ended 30.09.2024 Unaudited Standalone & Consolidated Financial Results with Limited Review Report.
Awaiting price reaction for this filing.
Birla Cotsyn (India) Ltd, a company under NCLT liquidation since September 2019, held a Monitoring Committee meeting on May 29, 2025 that approved a large backlog of delayed financial results covering FY2018-19 through Q2 FY2024-25 (September 2024), both standalone and consolidated. The NCLT had approved a Composite Scheme of Compromise and Arrangement on January 9, 2025 (uploaded January 14, 2025), and the accounts have been prepared on a going concern basis despite the liquidation status. The results show zero revenue from operations across all reported periods, with standalone losses of Rs. 170.74 lakhs in Q2 FY25 and Rs. 334.44 lakhs for H1 FY25, continuing the pattern of losses. Negative reserves of about Rs. 66,657 lakhs (standalone) and massive non-current borrowings of Rs. 65,678 lakhs leave total equity deeply negative at around Rs. 39,144 lakhs. The committee also approved a Rs. 3 crore working capital infusion and plans to file an application before NCLT over demands raised by MIDC, NSDL, CDSL, and BSE for the CIRP/liquidation period.
Shareholders should note this is a distressed company in liquidation with no operational revenue and deeply negative net worth; the NCLT-approved compromise scheme and going-concern assumption are the only factors keeping the stock alive, while the outstanding demands from market infrastructure institutions add legal uncertainty. The stock remains high-risk and speculative.