Un-Audited Standalone & Consolidated Financial Results for the quarter ended June 30, 2024 has been attached herewith.
Awaiting price reaction for this filing.
KDJ Holidayscapes, which was under Corporate Insolvency Resolution Process (CIRP) since September 2019, has filed a batch of delayed financial results after the NCLT approved its resolution plan on March 4, 2025, transferring control to the new Resolution Applicant. For FY ending March 31, 2024 (standalone), the company reported zero revenue and a net loss of Rs 14.22 lakh, widening from Rs 10.36 lakh loss in the prior year. On a consolidated basis, the FY24 net loss was Rs 47.86 lakh with total assets of Rs 71.74 crore against total liabilities of Rs 63.84 crore. The statutory auditor, DD Shah Patel & Co., issued a Disclaimer of Opinion citing inability to verify trade receivables, loans, fixed assets, borrowings, payables, and bank balances due to non-availability of records from the pre-resolution period. As part of the resolution plan, all existing 54.65 crore equity shares are being cancelled and 25,000 new shares will be allotted to public shareholders in a 1:998 ratio, pending BSE listing approval.
The stock remains effectively a penny shell with no operating revenue and continuing losses; existing shareholders face near-total wipeout through the 1:998 share cancellation/restructuring, though the approved resolution plan and new management takeover may eventually revive the company. Investors should treat this as a highly distressed, high-risk situation with extreme uncertainty about future value recovery.