Result for the quarter ended June 30, 2021
Awaiting price reaction for this filing.
Talwalkars Better Value Fitness Ltd reported zero revenue for Q1 FY22 (April-June 2021) as operations were suspended during the Corporate Insolvency Resolution Process (CIRP), which was initiated on January 11, 2021. The company reported a net loss of Rs. 816.05 lakhs, driven primarily by depreciation charges of Rs. 816.05 lakhs. The auditor (SK Bhavsar & Co.) issued a disclaimer of conclusion, stating they could not verify the financial results because the current management acquired the company in November 2024 without access to original books of accounts, vouchers, or servers from this historical period. The results were reconstructed on a best-effort basis. Additionally, the NCLT Relief Order dated February 26, 2026 extinguished all pre-transfer liabilities and cancelled the existing equity share capital of Rs. 3100.49 lakhs. The company has since been re-established as a going concern under new ownership.
The Q1 FY22 results carry no investment relevance as the historical equity has been cancelled and the financial data could not be independently verified. The pre-acquisition losses and zero revenue reflect the company's defunct status during CIRP, while new investors acquired the business as a going concern after November 2024.