Result for the quarter and year ended March 31, 2020
Awaiting price reaction for this filing.
Talwalkars Better Value Fitness Ltd has published audited financial results for Q4 and FY2020, though these results carry severe limitations. The company underwent Corporate Insolvency Resolution Process (CIRP) from January 2021 and Liquidation from April 2022, before being acquired as a going concern on November 7, 2024. The current management reconstructed these financial results on a best-effort basis as they did not have access to complete books of accounts, original vouchers, or servers from the historical period. Revenue from operations collapsed to Rs. 320.50 lakhs in FY2020 from Rs. 7,305.40 lakhs in FY2019 (95.6% decline), while the company reported a net loss of Rs. 3,997.46 lakhs compared to a profit of Rs. 1,809.30 lakhs in the prior year. The auditor issued a Disclaimer of Conclusion, unable to verify or confirm any balances due to the non-availability of primary records. An NCLT Relief Order dated February 26, 2026 has extinguished all pre-transfer liabilities and cancelled the existing equity share capital.
Shareholders should note that these financial results are highly unreliable due to reconstructed data and auditor disclaimer. The historical equity has been cancelled without payment per the NCLT order, and new investors acquiring the company as a going concern from November 2024 onwards will be the relevant stakeholders. The stock's historical performance data for FY2020 is not comparable to current operations.