The Company has declared it''s financials in pursuance of implementation of Resolution Plan as approved by NCLT.
RESULTS
◆ Monitor Closely
HIGH RISK
📅 Filed on BSE: 29 Mar 2026, 01:50 PM IST · BSE ID: c9acd583-429a-411d-9ecb-65d9bb1dd77f
View Original BSE Filing (PDF)
💡
In Simple Terms
A company emerging from bankruptcy filed its old financial results showing zero sales and small losses, three years late due to its insolvency process.
🤖 AI Summary
- Q1 FY24 results filed post-CIRP: zero revenue, Rs. 26 Lakhs net loss for quarter ended June 30, 2023
- Filing delayed nearly 3 years — company undergoing CIRP under IBC 2016, management with Resolution Professional
- NCLT-approved Resolution Plan granted immunities for past non-compliances including late result submission
- Manufacturing operations non-operational during quarter; working capital deficit Rs. 6,696 Lakhs (borrowings minus cash)
- Limited Review audit completed; results regularized in continuation of NCLT-approved resolution plan implementation
🔢 Key Numbers — exact figures from BSE filing, not rounded
Revenue from Operations (Q1 FY24)
Rs. 0 Lakhs
Net Loss (Q1 FY24)
Rs. 26 Lakhs
Current Borrowings
Rs. 12,411 Lakhs
Total Assets
Rs. 17,873 Lakhs
Cash and Cash Equivalents
Rs. 19 Lakhs
Total Equity
Rs. 1,177 Lakhs
Working Capital Deficit
Rs. 6,696 Lakhs
EPS (Basic & Diluted)
(0.04) per share
🏢 How This Affects the Company
Manufacturing remained non-operational during the quarter. Zero revenue from operations confirms business suspension during CIRP process. Post-resolution operation status unclear from filing.
Company carries borrowings of Rs. 12,411 Lakhs against total assets of Rs. 17,873 Lakhs, creating significant leverage. Net worth of Rs. 1,177 Lakhs indicates shallow equity buffer.
Manufacturing activities were not operational during quarter. Workforce and production capacity status not disclosed; operations appear suspended during insolvency resolution.
High debt-to-equity ratio indicates financial stress. Non-operational status and zero revenue create ongoing solvency risk despite Resolution Plan approval. Future revenue generation capability unproven.
👥 What This Means For Shareholders
✅
Action Required
Monitor next quarterly results filing to confirm business restart, manufacturing resumption, and revenue generation post-emergence from insolvency.
👤
Who Is Affected
All equity holders in BKM Industries. Shareholder value substantially diluted — company emerged from insolvency under Resolution Plan with Rs. 1,177 Lakhs net worth across Rs. 655 Lakhs paid-up capital (651.61 crore shares at Re. 1 face value).
🔍
Management Signal
NCLT-approved Resolution Plan required filing delayed results; immunities granted for past non-compliance. Plan implementation ongoing; manufacturing and business operations yet to restart post-emergence.
For information only. Not investment advice. ForgeUp is not SEBI-registered.
👁 Watch List — track these upcoming events
Q2 FY24 results filing — confirm manufacturing restart and first revenue recognition post-CIRP
Resolution Plan execution updates — monitor for operational/financial covenant compliance disclosures
Debt restructuring or covenant modification filings — track changes to borrowing terms post-emergence
HIGH RISK
Post-insolvency company with zero revenue, Rs. 12,411 Lakhs debt, Rs. 19 Lakhs cash. Manufacturing non-operational. Business revival capability unproven.
💡 Investor Takeaway
BKM Industries filed Q1 FY24 results (ended June 30, 2023) showing zero revenue, Rs. 26 Lakhs net loss, and Rs. 12,411 Lakhs total borrowings against Rs. 1,177 Lakhs equity. Manufacturing non-operational. Filing delayed 3 years due to CIRP; NCLT approved Resolution Plan granted compliance immunities. Business viability post-resolution unconfirmed.
⚖️ Strengths & Concerns
⚠️ Concerns
- Zero revenue from operations and manufacturing non-operational during quarter indicate suspended business activity and revenue generation risk.
- Working capital deficit of Rs. 6,696 Lakhs (borrowings Rs. 12,411 Lakhs versus cash Rs. 19 Lakhs) creates severe liquidity strain.
- Net loss in all four comparable periods (Rs. 26, Rs. 45, Rs. 58, Rs. 213 Lakhs) confirms sustained unprofitability post-emergence.
- Debt-to-equity ratio approximately 10.4x indicates extremely leveraged balance sheet with minimal equity cushion for stakeholders.
📅 Company Track Record
BKM Industries (formerly Manaksia Industries Ltd.) underwent CIRP and obtained NCLT-approved Resolution Plan. FY23 showed zero revenue, Rs. 655 Lakhs loss, Rs. 6,723 Lakhs working capital deficit. Q3 FY22 and Q3 FY23 also reported zero revenue with losses Rs. 57 Lakhs and Rs. 54 Lakhs respectively. Consistent non-operational status since insolvency commencement.
Based on publicly available historical data. For context only.