Submission of Annual Report
Awaiting price reaction for this filing.
IVRCL Limited has submitted its 38th Annual Report for FY 2024-25 along with the notice for its 38th AGM, scheduled for December 31, 2025 at 11:00 AM via video conferencing. The company remains under liquidation as a going concern since the NCLT order of July 26, 2019, and a new liquidator, Mr. Purusottam Behera, was appointed on October 29, 2025, replacing Mr. Sutanu Sinha. Total revenue collapsed to Rs. 79.85 million in FY25 from Rs. 605.16 million in FY24, and the loss after tax narrowed to Rs. 8,114.50 million from Rs. 26,960.75 million. Reserves and surplus stand deeply negative at Rs. 181,336.24 million, no dividend has been recommended, and trading in IVRCL shares has been suspended by NSE and BSE since September 3, 2019. A prior third e-auction sale attempt collapsed after the successful bidder failed to pay the balance Rs. 1,150 crore consideration, and the matter remains sub judice.
Equity shareholders continue to face significant uncertainty as the company is in liquidation, shares remain suspended from trading, and the balance sheet shows severe accumulated losses with no dividend and no operational turnaround in sight. Recovery prospects for shareholders appear remote given the large negative net worth, while the outcome of pending NCLT proceedings and any future sale of the company as a going concern remain the key triggers to watch.