Un-Audited Financial Results for Quarter ended 30th June, 2025
Awaiting price reaction for this filing.
JBF Industries, currently under Corporate Insolvency Resolution Process (CIRP) since January 2024, reported a net loss of Rs. 47 lakhs for Q1 FY26 compared to a Rs. 350 lakhs loss in Q1 FY25. Manufacturing operations remain discontinued across all locations. The auditor (S.C. Ajmera & Co.) issued a qualified opinion, flagging that interest on borrowings of Rs. 2,47,379 lakhs has not been provided at documented rates — an aggregate of Rs. 1,66,859 lakhs of interest has been skipped. Multiple emphasis-of-matter points were raised, including a corporate guarantee invocation of Rs. 1,99,155 lakhs by a lender of step-down subsidiary JPL, a Rs. 32.94 crore demand from Tamilnad Mercantile Bank, a Rs. 12,848 lakhs operational creditor claim from JBF RAK LLC, and the absence of a CEO, CFO, Company Secretary, and Internal Auditor.
This filing reinforces extreme distress for shareholders — the auditor explicitly states the company ceases to be a going concern, and all key managerial positions are vacant. Stock price likely to remain weak with little clarity on resolution; investors should treat equity as highly speculative pending CIRP outcome.