Result for the quarter ended September 30, 2021
Awaiting price reaction for this filing.
Talwalkars Better Value Fitness Ltd reported zero revenue for Q2 FY2021 (Rs. nil) as the company's operations were suspended during Corporate Insolvency Resolution Process (CIRP) initiated in January 2021 and subsequent Liquidation. The company reported a net loss of Rs. 816.05 lakhs for the quarter, driven entirely by depreciation charges of Rs. 816.05 lakhs (vs Rs. 843.85 lakhs same quarter last year). For the half-year, the loss stood at Rs. 1,632.10 lakhs. The auditor issued a disclaimer of conclusion citing non-availability of books of accounts, inability to verify assets, liabilities, and transactions — the company was under erstwhile management, Resolution Professional, and Liquidator during this period. The current management acquired the company in November 2024 and reconstructed these results on a best-effort basis. Equity share capital has since been cancelled per NCLT order, and Fresh Start Accounting adopted.
Shareholders should note that this filing covers a historical period where the company was not a going concern. The equity shares from this period are now cancelled with no value. Current investors are those who acquired the company post-November 2024 as a going concern. The financial data carries inherent reliability limitations due to absence of original records.