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 (formerly Manaksia Industries Ltd) has submitted its audited and limited-review financial results for the quarter and year ended 31 March 2022 with a delay of about four years, citing the Corporate Insolvency Resolution Process (CIRP) that the company underwent. The NCLT has since approved a Resolution Plan granting relief from past non-compliances. Manufacturing activities were not operational during the period; revenue from operations stood at nil. The company reported a net loss of Rs. 1,492 lakhs for FY22 (standalone), widening from Rs. 1,128 lakhs in FY21, with a loss per share of Rs. 2.28. Total equity eroded to Rs. 1,418 lakhs from Rs. 2,910 lakhs, while short-term borrowings remained heavy at Rs. 12,411 lakhs and operating cash flow was negative at Rs. (127) lakhs.
Shareholders should note that this is essentially a back-dated, compliance-cleansing filing made possible by the NCLT-approved Resolution Plan, not fresh business performance. The company had no operating revenue, widening losses, eroded equity, and debt far exceeding its equity base, reflecting a deeply stressed financial position prior to the resolution plan kicking in.