Result for the quarter and year ended March 31, 2021
Awaiting price reaction for this filing.
Talwalkars Better Value Fitness Ltd reported zero revenue from operations for both Q4 and FY2021 due to suspended operational activities during the Corporate Insolvency Resolution Process (CIRP) initiated on 11 January 2021. The company posted a net loss of Rs. 842.03 lakhs for the quarter and Rs. 3,373.58 lakhs for the full year, compared to a loss of Rs. 3,997.46 lakhs in FY2020. Total depreciation stood at Rs. 3,375.40 lakhs for the year. The financial results for this period (September 2019 to December 2024) have been reconstructed on a 'best-effort basis' by the newly reconstituted management as they did not have access to complete books of accounts, original vouchers, or underlying servers. The company was subsequently acquired as a going concern via e-auction on 16 August 2024, with the Sale Certificate issued on 23 January 2025 and transfer effective 7 November 2024. All pre-transfer equity share capital has been cancelled and pre-transfer liabilities extinguished per NCLT Relief Order dated 26 February 2026.
This result reflects a company in insolvency with no operating revenue and heavy losses. The auditor issued a Disclaimer of Conclusion citing complete non-availability of primary books, making the financial data unreliable. The equity share capital stands cancelled and the company has been restructured post-acquisition.