Outcome of Monitoring Committee Meeting held on 29.05.2025, for approval of 3rd Quarter and Nine Month ended 31.12.2021 Unaudited Standalone & Consolidated financial results with limited ....
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Birla Cotsyn (India) Ltd, which has been under NCLT liquidation since September 2019, informed BSE that its Monitoring Committee approved long-pending unaudited financial results for Q3 and nine months ended December 31, 2021 (both standalone and consolidated). Revenue from operations is nil; only other income of Rs 83.56 lakhs was recorded in the quarter, taking nine-month other income to Rs 251.01 lakhs. The company posted a standalone loss of Rs 144.11 lakhs for the quarter and Rs 451.68 lakhs for nine months, with reserves deeply negative at Rs (67,322.52) lakhs. The committee also approved financial statements as on the NCLT order dated January 9, 2025 (uploaded January 14, 2025) which sanctioned a Composite Scheme of Compromise and Arrangement, on the basis of which accounts are now drawn up on a going-concern assumption. A Rs 3 crore working capital infusion was approved, and the committee resolved to approach NCLT against claims raised by MIDC, NSDL, CDSL and BSE for the CIRP/liquidation period where no claims were originally filed.
For retail investors, the NCLT-approved revival scheme is the key positive, as it underpins the going-concern assumption and may eventually enable a restart of operations. However, the company still reports zero operating revenue, mounting losses, and deeply eroded reserves, with outstanding disputes against statutory bodies likely to take time to resolve, so the stock remains a high-risk, restructuring-stage play.