PFA Results
Awaiting price reaction for this filing.
Ushdev International filed its audited annual results for FY25, reporting a consolidated net loss of Rs. 1,662.28 lakhs versus Rs. 1,975.77 lakhs in the previous year. Total revenue from operations declined to Rs. 1,232.79 lakhs from Rs. 1,503.28 lakhs, an 18% drop. The balance sheet shows a deeply negative net worth of Rs. 3,20,760 lakhs and net current liabilities of Rs. 3,26,951 lakhs. The company remains under Corporate Insolvency Resolution Process (CIRP) since May 2018; the resolution applicant Taguda Pte Ltd failed to implement the approved plan, its Rs. 1,813.46 lakhs bid bond has been forfeited, RBI approval is still pending, and secured lenders led by SBI have filed for liquidation. The statutory auditor (SGN & Co) issued a 'Disclaimer of Opinion' on both standalone and consolidated results and stated they cannot comment on the company's ability to continue as a going concern.
This filing is highly negative for shareholders. The auditor's disclaimer, massive negative net worth, pending liquidation petition, and failure of the resolution plan together signal severe distress with a real risk of liquidation and near-total equity loss. Expect continued sharp negative pressure on the stock and very low liquidity.