Result for the quarter and year ended March 31, 2022
Awaiting price reaction for this filing.
Talwalkars Better Value Fitness reported zero revenue from operations for both Q4 FY22 and full year FY22, with a net loss of Rs 812.63 lakhs for the quarter and Rs 3,260.78 lakhs for the year. The company's EPS stood at -1.05 for FY22. The auditor issued a disclaimer of conclusion, stating they could not verify historical financial data because the company underwent Corporate Insolvency Resolution Process (CIRP) and liquidation between January 2021 and November 2024. The current management acquired the company in November 2024 but did not have access to original books of accounts, vouchers, or IT servers from the historical period. The financial results were reconstructed on a best-effort basis. The company's total borrowings stand at Rs 22,028.20 lakhs against total equity of Rs 11,292.07 lakhs, indicating negative net worth.
The stock faces extreme uncertainty given the disclaimer of opinion, zero revenue, ongoing CIRP/liquidation history, and cancellation of pre-transfer equity shares per NCLT order. Shareholders from the pre-acquisition period have effectively lost their equity as the NCLT extinguished all historical liabilities and cancelled existing share capital.