Revised Outcome of Audited Financial Results of the Company Standalone and Consolidted along with impact of the auditor Report for the Quarter Ended as on 31st march 2025.
Awaiting price reaction for this filing.
Jiya Eco-Products filed audited results for FY25 along with a revised board meeting outcome. Operations have been fully suspended since 19 May 2021, and the company has been under Corporate Insolvency Resolution Process (CIRP) since April 2023; the NCLT Ahmedabad approved a Resolution Plan on 11 December 2024. The standalone results show zero revenue from operations, total income of just Rs. 2.66 lakhs, and a net loss of Rs. 104.05 lakhs for FY25 (vs. Rs. 114.82 lakh loss in FY24). The board was reconstituted under IBC provisions, Mr. Pradeep Khandagale was appointed as the new Whole-time Director, and a new secretarial auditor was appointed. The statutory auditor issued a 'Disclaimer of Opinion' on both standalone and consolidated results, stating they could not obtain sufficient audit evidence. Total equity is deeply negative at Rs. (1,854.86) lakhs, with current borrowings of Rs. 2,185.73 lakhs against current assets of only Rs. 0.90 lakhs.
This is a deeply negative filing for shareholders — the company has no revenue, negative net worth, and the auditor flagged a material uncertainty on going concern with a full disclaimer. Under the approved Resolution Plan, existing shareholders face significant dilution or write-down risk. The stock remains highly speculative and distressed.