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Awaiting price reaction for this filing.
Priya Limited reported its unaudited financial results for the quarter ended June 30, 2025, showing zero revenue from operations and a net loss of Rs. 93.77 lakhs (EPS of negative Rs. 3.12). The company continues to face severe financial distress — its bank accounts remain blocked since being classified as NPA in 2018 by Indian Bank, Bank of Maharashtra, and Union Bank of India, all branches except Mumbai have been shut, and the company carries negative net worth with total liabilities exceeding total assets by Rs. 5,290.75 lakhs. The statutory auditor (J M & Associates) issued an Adverse Opinion on the results due to multiple qualifications including NPA status, willful defaulter tag (contested by management), pending property auction reconciliations, unrecovered export receivables of Rs. 3,269.64 lakhs, a long-vacant CFO position, and related-party rent transactions not at arm's length. The board also appointed Mr. Sushil Sakpal as Additional Independent Director and reconstituted its Audit, Nomination & Remuneration, and Stakeholders Relationship committees.
This filing is deeply negative for shareholders — the company is operationally almost non-functional, is under an Adverse Opinion from its auditor, has a negative net worth, and faces ongoing recovery actions from three banks including property auctions. Shareholders should note the heightened risk of further value erosion; however, management's pursuit of a one-time settlement with lenders and the appointment of a banking-finance veteran as Independent Director suggest efforts toward resolution.