The Financial results are declared in pursuance with 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 quarterly results for Q1 FY2022 (ended 30 June 2021) nearly five years late, because the company was under Corporate Insolvency Resolution Process (CIRP) under the IBC, 2016 and was managed by a Resolution Professional. The NCLT has since approved a Resolution Plan and granted the company immunity from penalties for the delayed filing. Revenue from operations was nil for the quarter, as manufacturing activities were not operational. The company reported a net loss of Rs 273 lakhs (standalone and consolidated), with EPS of Rs (0.42). Total expenses of Rs 273 lakhs were mainly depreciation (Rs 249 lakhs) and other costs. The balance sheet shows very stressed financials: total equity of Rs 2,637 lakhs against current borrowings of Rs 12,411 lakhs, and cash and cash equivalents of just Rs 7 lakhs.
This is a post-facto disclosure for a quarter where the business was already in insolvency and not generating revenue, so it has no real-time impact on stock price. However, it highlights deep financial distress historically — near-zero revenue, continuous losses, extremely high debt-to-equity (~4.7x), and minimal cash. Existing shareholders should treat this as a historical record rather than a current operating update, and focus on the operational performance post-Resolution Plan implementation.