PFA pdf
Awaiting price reaction for this filing.
Nutraplus India Ltd has submitted its quarterly financial results for the quarter ended December 31, 2022, with a delay of nearly 2 years. The Board approved these results on October 19, 2024. The company's statutory auditor, Raman S. Shah & Associates, issued a 'Qualified Limited Review Report' due to non-compliance with listing requirements and inadequate financial data provided for review. Key concern: The company lost ALL its property, plant and equipment under the SARFAESI Act, 2002, after being declared a Non-Performing Asset in FY 2019-20. The financial results show revenue of only Rs 9.80 lakh for the quarter against total expenses of Rs 11 lakh, resulting in a net loss. For the nine months ended December 2022, the company reported a net loss of Rs 303.13 lakh, indicating severe financial distress.
This is a highly concerning filing. The qualified auditor opinion, loss of all operating assets via SARFAESI auction, and multi-year delay in result submissions signal extreme financial distress. The stock appears to be of a non-operational company that lost its entire manufacturing capability. Shareholders should be aware that the company may be effectively a shell entity with no core business operations.