The Financial Results are declared in pursuance of the Implementation of Resolution Plan as approved by NCLT
Awaiting price reaction for this filing.
BKM Industries Ltd has submitted its financial results for the quarter and nine months ended 31 December 2021, which are over four years late due to the company being under Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016. The NCLT has since approved a Resolution Plan under Sections 30 and 31 of the IBC, granting the company relief from past non-compliances, including the late filing. Manufacturing activities were not operational during the period, with zero revenue from operations. The company reported a standalone loss of Rs. 273 lakhs for the quarter (nine-month loss of Rs. 837 lakhs), with a negative EPS of Rs. 0.42. Total equity has shrunk to Rs. 2,073 lakhs as of December 2021 from Rs. 2,910 lakhs in March 2021, while current borrowings stand at a high Rs. 12,411 lakhs.
For shareholders: the results confirm a non-operational company under insolvency that has now emerged with an NCLT-approved Resolution Plan, but the financials show continued losses, negative equity growth, and a heavy debt burden (current borrowings of Rs. 12,411 lakhs vs. equity of Rs. 2,073 lakhs). The delayed filing may trigger exchange scrutiny despite the relief granted, and the stock is likely to remain volatile given the weak fundamentals and ongoing recovery uncertainty.