Tijaria Polypipes Limited has informed the Exchange regarding Outcome of Board Meeting held on May 15, 2025.
TIJARIA · price
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Tijaria Polypipes reported audited FY25 results showing a net loss of Rs. 543.01 lakhs, nearly doubling from Rs. 291.64 lakhs loss in the previous year, on a near-zero revenue from operations of just Rs. 14.85 lakhs. The company has a negative net worth of Rs. 3,250.25 lakhs with accumulated losses of Rs. 11,989.89 lakhs, while total borrowings stand at Rs. 7,740 lakhs. The statutory auditor (Amit Ramakant & Co.) issued a Disclaimer of Opinion citing inability to verify recoverability of Rs. 2,332 lakhs of receivables, no interest provision on NPA loans, and failure to receive balance confirmations. The company's bank accounts remain classified as NPA since June 2022 with an outstanding of Rs. 7,173 lakhs, and Bank of India has been forfeiting and selling promoter shares. A Rs. 3.12 crore impairment was recorded on Plant & Machinery, and the textile division remains shut with no production in Q4.
Highly negative for shareholders — the company faces serious going-concern risks with negative book value, NPA-status bank loans, and an auditor who refused to express any opinion. Continued operations depend on a One Time Settlement with Bank of India funded by Rs. 5 crore director loans; equity holders face substantial dilution and near-zero chance of returns.