The Board of Directors had approved the unaudited financial results for the quarter ended june 30 2024
Awaiting price reaction for this filing.
Binny Limited submitted its unaudited financial results for the quarter ended June 30, 2024 nearly 20 months late, with the board approving them on February 17, 2026. Revenue from operations stood at Rs. 1,947.10 lakhs, sharply lower than Rs. 5,134.11 lakhs in the year-ago quarter, while profit after tax fell to Rs. 425.41 lakhs from Rs. 1,955.89 lakhs previously (EPS of Rs. 1.94 vs Rs. 8.76). The auditor issued a qualified review report flagging four major concerns: Rs. 2,918.05 lakhs in unverified advances to RRB Energy Limited, Rs. 26,765 lakhs of unregistered land recognized as inventory (breach of Ind AS), Rs. 1,912 lakhs receivable from Sanklecha Infra with no revenue recognition, and unrecorded school revenue from the SPR Constructions joint development. The filing also disclosed a new settlement with SPR Constructions under a Second Amended JDA dated August 6, 2025, with a Special Committee (headed by a retired Justice) overseeing a Rs. 30,000 lakhs lump sum plus Rs. 62,351.95 lakhs company share. Separately, Company Secretary and Compliance Officer Mr. Sudhir Anand resigned effective January 5, 2026.
Shareholders should view this very cautiously: results are extremely delayed, the auditor has raised a qualified opinion citing multiple Ind AS violations and questionable recoverability of nearly Rs. 30,000 lakhs in assets, and a key KMP has resigned. The stock price is likely to face negative pressure given the governance red flags, even though headline profits appear to have turned positive versus a loss-making FY24.