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BSEMaxgrow India LtdHighNeutral
Announced Fri, 23 May, 2025 · 24:00 IST

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Emphasis Of MatterRevenue DeclinePat NegativeExceptional ItemRelated Party TransactionsResults View source PDFExplain this filing
Price reaction

Awaiting price reaction for this filing.

AI summary

Maxgrow India has submitted delayed Q3 FY25 results, citing the ongoing implementation of its NCLT-approved Resolution Plan. The company emerged from the Corporate Insolvency Resolution Process (CIRP) with the effective date of implementation recorded as December 23, 2024. As part of the resolution, Singapore-based Metal Industrial Pte Ltd became the new promoter holding 97.82% of equity, and Maxgrow acquired 100% of PP Metallix Ltd (Seychelles). The company has effectively zero revenue from operations, with total income of just Rs 0.24 lakh for Q3 and Rs 0.73 lakh for nine months. It reported a loss before tax of Rs 2,076.72 lakh in Q3 and Rs 2,082.44 lakh for nine months, largely driven by a one-time exceptional loss of Rs 2,088.44 lakh from the NCLT resolution plan, including write-offs of debtors, advances, and investments. Basic EPS stood at (Rs 4.22) for the quarter. BSE granted listing approval on April 9, 2025.

Likely market impact

For shareholders, this marks a fresh start after the successful NCLT resolution, but the underlying business remains non-operational with no revenue, making the stock speculative. The large exceptional loss reflects clean-up of legacy balance sheet items rather than ongoing business deterioration, but near-term profitability will depend on how the new promoter (Metal Industrial Pte Ltd) activates operations through the PP Metallix subsidiary.