Pursuant to Reg 30 & 33 of SEBI(LODR)Regulations, 2015, please find enclosed results for the quarter and nine months ended 31st December, 2024.
Awaiting price reaction for this filing.
CMI Limited, currently under Corporate Insolvency Resolution Process (CIRP) since August 2023 following a Canara Bank petition, has filed unaudited results for the quarter and nine months ended 31 December 2024 — approved by the Resolution Professional on 31 October 2025 after a long delay. Revenue from operations for the nine months surged to Rs 8,974.33 lakhs from Rs 2,030.30 lakhs a year earlier, but this growth is off a very low post-CIRP base and is heavily front-loaded in raw material costs (Rs 8,594.80 lakhs). The company posted a net loss of Rs 1,802.97 lakhs for the nine months, widening from a Rs 542.29 lakhs loss in the prior-year period. Accumulated losses of Rs 16,777.33 lakhs have completely wiped out the company's net worth of Rs 1,604.74 lakhs. The auditor flagged a serious going-concern doubt and disclaimed opinion, citing unavailable fixed asset register, unreconciled bank and loan balances, missing stock details, and unverified pending litigations.
This is a deeply distressed company — under IBC, with fully eroded net worth, widening losses, and an auditor who refused to give an opinion. For existing shareholders, equity value is effectively at risk; the stock will be driven almost entirely by the outcome of the CIRP resolution plan rather than operating performance. New investors should treat this as a high-risk, event-driven situation.