The Board of Directors had approved the unaudited Financial Results for the Quarter ended December 31 2024
Awaiting price reaction for this filing.
Binny Limited's board approved unaudited standalone results for Q3 FY25 (quarter ended Dec 31, 2024) at a meeting held on March 17, 2026 — a significant delay of over a year from the quarter end. Revenue from operations for the quarter stood at ₹1,202.49 lakhs, taking 9M FY25 revenue to ₹3,986.58 lakhs, a sharp drop of about 70% from ₹13,336.51 lakhs in 9M FY24. Profit after tax for 9M FY25 was ₹1,640.48 lakhs versus ₹3,254.38 lakhs a year earlier. The auditor (Venkatesh & Co) issued a qualified conclusion flagging issues including ₹2,918 lakhs owed by RRB Energy with no recoverability evidence, ₹26,765 lakhs of unregistered land held as inventory, unrecognised revenue of ₹1,912 lakhs from a deal with Sanklecha Infra, and missing revenue from school operations under a JDA with SPR Constructions. The company has filed an IBC case against RRB Energy which was admitted by NCLT, and SAT hearings on the MBDL settlement scheme are ongoing.
Shareholders should note the qualified auditor opinion raises red flags on asset quality and revenue recognition, while the steep revenue decline and unusual filing delay (over 14 months after quarter end) suggest material business and compliance challenges that may weigh on the stock.