The Audited Financial Statement for the quarter and year ended March 31, 2025, which were approved by Resolution Professional on May 29, 2025, were noted by Implementation and Monitoring ....
Awaiting price reaction for this filing.
Dharti Proteins (formerly Devika Proteins) filed long-pending financial results through its Monitoring Committee as the company remains under Corporate Insolvency Resolution Process (CIRP) since April 29, 2024, with an Erstwhile Resolution Professional managing the board. For FY25 (audited), the company reported zero revenue from operations and only Rs. 7.20 lakhs of other income, narrowing its loss to Rs. 0.66 lakhs from Rs. 19.01 lakhs in FY24. Results for Q1 FY26 (June 2025) and Q2 FY26 (September 2025) showed continued losses of Rs. 4.60 lakhs and Rs. 0.42 lakhs respectively, with net worth slipping into negative territory at Rs. (3.75) lakhs by June 2025. The statutory auditor issued a Qualified Opinion flagging serious concerns: the company has been inoperative for years, has a material going concern doubt, Rs. 150.46 lakhs in long-outstanding loans likely to be bad debts, and inability to verify other current assets. The company also has unpaid BSE listing fees and contingent liabilities of Rs. 150.82 lakhs (mostly income tax demands).
For shareholders, this is a high-risk stock: the company is operationally inactive, under insolvency resolution, bleeding losses, carrying a qualified audit with going concern doubts, and has effectively negative net worth. Recovery prospects depend on the CIRP outcome and any resolution plan approved by NCLT; trading should be treated as highly speculative.