Result for the quarter ended December 31, 2022
Awaiting price reaction for this filing.
Talwalkars Better Value Fitness Ltd reported zero revenue for Q3 FY2023 (Dec 2022) with a net loss of Rs. 816.05 lakhs. The company was under Corporate Insolvency Resolution Process (CIRP) initiated in January 2021 and Liquidation proceedings from April 2022, with all operational activities suspended during this period. The financial results have been reconstructed on a 'best-effort basis' as the current management, which acquired the company on November 7, 2024, did not have access to complete books of accounts, original vouchers, or underlying servers. The auditor (SKBhavsar & Co.) issued a Disclaimer of Conclusion, unable to provide any review opinion due to pervasive scope limitations including inability to verify fixed assets, inventories, trade receivables, cash balances, borrowings, taxation provisions, and related party transactions. EPS stands at Rs. -2.632 per share. The Hon'ble NCLT Order dated February 26, 2026 permanently extinguished all pre-transfer dues and liabilities, and the pre-acquisition equity share capital stands cancelled.
The company reported a significant net loss with zero revenue, reflecting its non-operational status during CIRP/Liquidation. The auditor's disclaimer of conclusion indicates severe data integrity issues with the reconstructed historical financials. Post-acquisition, the company has been acquired as a going concern with historical liabilities extinguished per NCLT order, but shareholders should be aware that pre-acquisition equity has been cancelled without any payment.