We wish to inform that the Board of Directors of the Company at their Meeting held today i.e., August 14, 2025, had, inter alia, approved the Un-audited Standalone and Consolidated Financial ....
Awaiting price reaction for this filing.
The Board approved unaudited standalone and consolidated financial results for the quarter ended June 30, 2025. The company reported zero revenue from operations, as its ammonia/urea and micro-irrigation plants were shut down in May-June 2024 after all core assets were sold by ACRE under the SARFAESI Act. Loss before tax narrowed to Rs. 625.79 lakhs (from Rs. 1,412.28 lakhs in Q1 FY25), with a loss per share of Rs. 0.10. The accounts continue to be prepared on a 'not a going concern' basis, reflecting discontinued operations since June 2024. Current liabilities exceed current assets by around Rs. 86,696 lakhs (standalone), and contingent liabilities stand at approximately Rs. 107,724 lakhs. Ownership has changed — Agri Vestors Private Limited acquired 45.44% from Amlika Mercantile at Rs. 4.31 per share via a March 28, 2025 deal, becoming the new promoter. The company has assigned its GAIL arbitration rights to AMPL and is pursuing government subsidy claims to settle liabilities.
The stock remains in a distressed, non-operational state with no revenue and negative equity, making it highly speculative. Any future value for shareholders hinges on recovery of the pending GAIL arbitration award and government subsidy/energy claims, which would be used primarily to clear liabilities rather than for growth.