Outcome of the Board Meeting dated 26th May 2025 pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015
Awaiting price reaction for this filing.
Insilco Ltd, which has been under voluntary liquidation since June 25, 2021, reported audited results for FY25 (year ended March 31, 2025). The company has zero revenue from operations as its only plant at Gajraula has remained shut since October 2019 due to pollution consent issues. Total income of Rs 224 lakhs (vs Rs 4,166 lakhs in FY24) came entirely from interest on deposits. The company posted a loss after tax of Rs 283 lakhs compared to a profit of Rs 3,136 lakhs in FY24, which was inflated by one-time gains from asset disposals. The Board approved reappointment of the Internal Auditor, appointment of a new Secretarial Auditor for 5 years, and received a liquidation process update from Liquidator Kapila Gupta. The company distributed Rs 4.58 per share as liquidation proceeds in March 2025 and has significantly drawn down cash reserves from Rs 3,836 lakhs to Rs 321 lakhs.
This is largely a procedural filing for a non-operational, liquidating company whose shares have been suspended from BSE trading since October 2022. Shareholders have already received Rs 4.58 per share as liquidation distributions, with remaining unclaimed amounts to be deposited with IBBI. With operations ceased, no going concern basis, and assets being distributed, the stock is effectively in wind-down mode with no business prospects remaining.