Result for the quarter ended June 30, 2024
Awaiting price reaction for this filing.
Talwalkars Better Value Fitness Ltd reported zero revenue from operations for Q1 FY25 (Rs. 0.00 lakh), same as the corresponding quarter last year. The company posted a net loss of Rs. 512.50 lakh, compared to a loss of Rs. 863.70 lakh in Q1 FY24. The auditor issued a Disclaimer of Conclusion, stating they could not provide a review opinion because the current management (which acquired the company in November 2024) did not have access to complete books of accounts, original vouchers, or servers for this historical period. The company was under Corporate Insolvency Resolution Process (CIRP) from January 2021 and liquidation from April 2022, with operational activities suspended. Financial results for this period were reconstructed on a best-effort basis. The NCLT Relief Order dated February 26, 2026 extinguished all pre-transfer liabilities and cancelled existing equity share capital.
The stock has an extremely high-risk profile due to the disclaimer from auditors, zero revenue, ongoing losses, and the complex insolvency history. The financial data for the quarter is highly unreliable as it was reconstructed without access to original records. Shareholders from the pre-insolvency period have had their equity cancelled.