Un-Audited Financial Results for 30th June 2025
Awaiting price reaction for this filing.
JBF Industries, currently under Corporate Insolvency Resolution Process (CIRP) admitted by NCLT on 25 January 2024, reported a net loss of Rs. 47 lakhs for Q1 FY26, compared to a loss of Rs. 527 lakhs in Q1 FY25. The auditor (S.C. Ajmera & Co.) issued a qualified opinion, noting that interest on borrowings of Rs. 2,47,379 lakhs was provided at 0% instead of the documented rate, understating finance costs by Rs. 10,710 lakhs; the cumulative unprovided interest stands at Rs. 1,66,859 lakhs. All manufacturing operations remain discontinued after secured assets were repossessed by lenders (now assigned to Madelin Enterprises Pvt Ltd). The auditor flagged a significant going concern doubt and highlighted multiple unresolved legal matters including a Rs. 12,848 lakh claim from a JBF RAK LLC creditor and a Rs. 1,99,155 lakh invoked corporate guarantee for step-down subsidiary JBF Petrochemicals.
The stock remains effectively a penny-level, non-operating insolvency play — financials show near-zero revenue with massive hidden liabilities, making the equity highly speculative. Shareholders face near-total loss risk as resolution under CIRP will likely determine any residual value, and the qualified audit with going concern flag means reported numbers materially understate the company's true losses.