Result for the quarter ended September 30, 2024
Awaiting price reaction for this filing.
Talwalkars Better Value Fitness Limited reported zero revenue for Q2 FY25 (Rs. 0) as operations were suspended during the CIRP and liquidation period (Jan 2021 - Nov 2024). The company recorded a net loss of Rs. 505.20 lakhs for the quarter, compared to Rs. 833.90 lakhs in Q2 FY24. For the half-year ended September 2024, the loss stood at Rs. 1,017.70 lakhs. The auditor (SK Bhavsar & Co.) issued a disclaimer of conclusion citing non-availability of complete books of accounts, vouchers, and servers. The company was acquired as a going concern on November 7, 2024, by a Successful Bidder, and all pre-transfer liabilities and equity share capital have been extinguished per the NCLT Relief Order dated February 26, 2026. Fresh Start Accounting has been adopted post-acquisition.
The stock is in a transitional phase post-acquisition with historical financials being reconstructed on a best-effort basis due to lack of records. Shareholders from the pre-acquisition period have had their equity cancelled without payment, while new ownership is now in place with zero revenue operations and significant debt of Rs. 19,592 lakhs.