Simplex Infrastructures Limited has informed the Exchange regarding Board meeting held on May 27, 2025.
SIMPLEXINF · price
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On the reaction day the stock moved 2.1 pts less than Nifty Microcap 250 and 2.0 pts less than its Civil Construction peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Simplex Infrastructures reported audited FY25 results (standalone and consolidated) along with auditor Binayak Dey & Co.'s reports, both of which drew attention to debt restructuring and exceptional items. The company has executed a Master Restructuring Agreement (MRA) with NARCL, converting unsustainable debt into sustainable debt of ₹1,25,000 lakhs payable over 7 years, with 15% new equity (1,00,84,027 shares at ₹281.36) issued to NARCL and 11% of promoter shares pledged as security. Overdue debts to non-assigned lenders stand at ₹29,670 lakhs, with negotiations ongoing. The Board also approved a preferential issue of equity shares to ICICI Bank and NARCL, and fixed EGM (June 23, 2025) and AGM (September 25, 2025) dates. FY25 results show a standalone net loss of ~₹1,846 lakhs and consolidated net loss of ~₹6,876 lakhs, with an exceptional net gain of ₹1,429 lakhs from unsustainable debt adjustments.
Significant equity dilution (~15% to NARCL already issued, more via preferential issue) and continued losses point to ongoing financial stress, though the MRA provides a debt-resolution path. The debt-equity ratio of ~32.96x (standalone) is extremely elevated, and shareholders should expect near-term pressure on the stock despite the restructuring progress.