Pursuant to Regulation 30 & 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015, as amended, we wish to inform that the Board of Directors of the Company (Power ....
Awaiting price reaction for this filing.
CMI Ltd's Board of Directors (whose powers are suspended) met on October 31, 2025, and approved the unaudited financial results for the quarter and nine months ended December 31, 2024, on the authorisation of the Resolution Professional. The company has been under the Corporate Insolvency Resolution Process (CIRP) since August 2023 after NCLT Delhi admitted Canara Bank's Section 7 petition under the Insolvency and Bankruptcy Code. For Q3 FY25, the company reported revenue of about ₹44 crore but posted a net loss of ₹8.18 crore, while for the nine months ended December 2024, revenue was ₹89.74 crore with a net loss of ₹18.03 crore. The auditor flagged serious going-concern doubts — accumulated losses of about ₹167.77 crore have completely eroded the company's net worth of ₹16.05 crore, and multiple records (fixed assets register, bank/loan confirmations, stock details) were unavailable. The auditor disclaimed an opinion on the financial statements.
Existing shareholders face extremely poor prospects — the company is in insolvency resolution with its net worth fully eroded, and the auditor has raised major going-concern and disclosure red flags, meaning recovery for equity holders under the IBC framework is unlikely. Trading in the stock is effectively in suspension/post-CIRP limbo and there is no meaningful positive trigger from this filing.