Unaudited financial results for the quarter ended June 30, 2024 along with its limited review report
Awaiting price reaction for this filing.
Blue Blends (India) Ltd submitted a combined filing covering three quarters of FY25 (June, September, and December 2024), significantly delayed from the normal timeline. The company recently emerged from a Corporate Insolvency Resolution Process (CIRP) that ran from December 2, 2021 to December 6, 2024, with NCLT approving its resolution plan in late 2024. In Q1 FY25, revenue from operations rose about 27% year-on-year to Rs 139.80 lakhs and the company swung to a profit of Rs 7.52 lakhs from a Rs 56.66 lakh loss a year earlier. Q3 FY25 revenue fell about 36% year-on-year to Rs 161.16 lakhs, though profit remained positive at Rs 17.09 lakhs versus a Rs 59.57 lakh loss. The auditor (M Parashar & Co.) issued clean limited review reports with no qualifications, and the resolution plan implementation, including share re-allotment and re-listing, is still underway.
Emergence from a three-year insolvency with a clean auditor review and a return to quarterly profits is a positive step for shareholders, but the deeply negative standalone book equity of about Rs 11,999 lakhs, weak and volatile revenues, and pending share re-listing mean the stock remains a high-risk, speculative bet until the resolution plan is fully executed.