The Board of Directors of the company had approved the unaudited financial results for the quarter ended September 30, 2024.
Awaiting price reaction for this filing.
Binny Limited's board, at a meeting held on March 4, 2026, approved the unaudited financial results for Q2 and H1 FY25 (quarter ended September 30, 2024) — notably delayed by over a year. Revenue from operations fell sharply to Rs. 2,784.09 lakhs in H1 FY25 from Rs. 10,957.42 lakhs in H1 FY24, a drop of roughly 75%. Profit after tax dropped to Rs. 669.42 lakhs from Rs. 3,827.45 lakhs. The auditor (Venkatesh & Co.) issued a qualified conclusion, flagging that Rs. 2,918.05 lakhs advanced to RRB Energy lacks sufficient evidence of recoverability, that Rs. 26,765 lakhs of land received from a related party is un-registered and improperly treated as inventory under Ind AS, and that revenue recognition under JDA deals with Sanklecha Infra and SPR Constructions is questionable. Operating cash flow was negative at Rs. -75.38 lakhs. The company is pursuing IBC action against RRB Energy and has closed the MBDL settlement per SAT directions.
For shareholders, the combination of a qualified auditor opinion, steep revenue and profit declines, negative operating cash flow, and large unresolved advances to distressed parties signals weak earnings quality and ongoing asset recovery risks. The stock may face pressure given governance and disclosure concerns raised by the auditor.