The Financials are declared in pursuance of Implementation of Resolution Plan as approved by NCLT
Awaiting price reaction for this filing.
BKM Industries (formerly Manaksia Industries) has finally filed its long-pending quarterly results for Q1FY23 (ended June 30, 2022), nearly four years late, because the company was under Corporate Insolvency Resolution Process (CIRP). The NCLT has since approved a Resolution Plan granting immunity for past non-compliances. The results themselves are stark: zero revenue from operations, manufacturing was not operational during the quarter, and the company posted a net loss of Rs. 58 lakhs (standalone) with a loss per share of Rs. (0.09). On the balance sheet, total equity stood at just Rs. 1,361 lakhs against current borrowings of Rs. 12,411 lakhs, and operating cash flow was negative at Rs. (26) lakhs. The previous full year (FY22) loss was Rs. 1,492 lakhs.
These results confirm BKM is effectively a non-operating, debt-laden shell emerging from insolvency with zero revenue, mounting losses, and a debt-to-equity ratio above 9x, signalling severe going-concern risk. Shareholders should treat this as a regulatory catch-up filing rather than an improvement story; the stock remains highly speculative and hinges entirely on the successful execution of the NCLT-approved resolution plan.