Outcome of the Monitoring Committee Meeting held on 29.05.2025, for approval of 3rd quarter and nine month ended 31.12.2020 Unaudited Standalone & Consolidated Financial Results Limited Review Report.
Awaiting price reaction for this filing.
Birla Cotsyn's Monitoring Committee (currently overseeing the company's liquidation) met on 29 May 2025 and approved long-pending unaudited standalone and consolidated financial results for the quarter and nine months ended 31 December 2020. For Q3 FY21, the company reported zero revenue from operations and just Rs. 85.06 lakh of other income, against total expenses of Rs. 256.58 lakh, resulting in a net loss of Rs. 171.52 lakh (EPS: -0.01). For 9M FY21, the loss stood at Rs. 500.72 lakh versus Rs. 10,082.72 lakh a year earlier (which had huge finance costs of Rs. 9,236 lakh). The committee also noted the NCLT's January 2025 approval of a Composite Scheme of Compromise and Arrangement (basis for going-concern assumption), approved a Rs. 3 crore working capital infusion, and decided to approach NCLT against demands raised by MIDC, NSDL, CDSL, and BSE for the CIRP/liquidation period.
These are very old results (nearly 4.5 years delayed) being cleared as the company exits liquidation through the NCLT-approved compromise scheme. Shareholders should focus on the revival plan and the Rs. 3 crore working capital infusion rather than the historical losses, as the stock remains under liquidation overhang with pending demands from market infrastructure institutions.