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Awaiting price reaction for this filing.
The board of Prag Bosimi Synthetics, in its May 28, 2025 meeting, appointed M/s Bharat Sharoff and Co. as internal auditors for FY 2025-26 and approved the audited financial results for Q4 and full year ended March 31, 2025. The company reported a standalone loss of Rs. 1,119 lakhs for FY25 (vs Rs. 1,157 lakhs loss in FY24) on revenue of just Rs. 5.89 lakhs. Net worth is deeply negative at Rs. (651) lakhs standalone and Rs. (377) lakhs consolidated. The statutory auditor (Ramak Gupta & Co.) flagged a material uncertainty on going concern due to the negative net worth and continued losses. Production has been halted since March 2020 after COVID disruptions, a workers' strike, and a Golden Handshake settlement, and the company is now mostly selling off old stock and idle plant assets.
This is a financially distressed, near-dormant company with negative net worth, persistent losses, unpaid NCD interest of about Rs. 26 crore, and an ongoing NCLT case by 3A Capital. Shareholders face serious going-concern risk and very limited operational activity, which is likely to weigh heavily on the stock.