Reg. 34 (1) Annual Report_2024
Awaiting price reaction for this filing.
Futura Polyesters Limited has submitted its 63rd Annual Report for FY 2023-24 along with AGM Notice scheduled for May 29, 2026. The company reported revenue of Rs. 12.90 Lakhs from discontinued operations against expenses of Rs. 578.89 Lakhs, resulting in a net loss of Rs. 565.99 Lakhs. No dividend has been recommended. Key positive developments include successful completion of One Time Settlement (OTS) with all consortium lenders for Rs. 243.45 Crores paid on June 23, 2025, and receipt of No Dues Certificates from all lenders including Bank of India, SBI, Union Bank, IDBI, Canara Bank, Axis Bank, Phoenix ARC, and Reliance ARC. The company has disposed of 170.18 acres of land (40.96 acres remaining) and banking restrictions were lifted on February 18, 2026. The special business at AGM involves appointment of Mr. Gautam Purohit as Independent Director for 5 years.
The company remains loss-making with suspended shares since March 2013, but completion of OTS and lifting of bank restrictions mark significant progress toward regularizing operations and potentially reviving the stock from suspension.