The Board of Directors had approved the Unaudited Financial Results for the quarter ended June 30,2025
Awaiting price reaction for this filing.
Binny Ltd reported revenue from operations of Rs 941.15 Lakhs for Q1 FY2025-26, down significantly from Rs 1,947.10 Lakhs in the same quarter last year (decline of ~52%). Profit after tax stood at Rs 371.23 Lakhs compared to Rs 425.41 Lakhs in Q1 FY2024-25, a decline of ~13%. The company's auditor, Venkatesh & Co, issued a qualified conclusion due to two issues: (1) Rs 2,918.05 Lakhs advanced to RRB Energy Limited with insufficient evidence of recoverability and no impairment recognized, though the company has filed for insolvency proceedings against RRB Energy; and (2) Rs 1,912 Lakhs receivable from Sanklecha Infra Projects where revenue recognition was deferred pending full payment under Ind AS 115. The company operates in the real estate segment and disclosed ongoing settlements with Mohan Breweries and Distilleries Limited.
The qualified conclusion raises concerns about asset recoverability and revenue recognition practices. Shareholders should note the significant revenue decline and the large outstanding advances to RRB Energy that remain unprovided for, though legal action has been initiated.