The Results are declared in pursuance of implementation of the Resolution Plan as approved by NCLT
REGULATORY
◆ Monitor Closely
HIGH RISK
📅 Filed on BSE: 28 Mar 2026, 10:49 PM IST · BSE ID: 1e0725f8-8803-4fc4-9fff-b6f3411037cc
View Original BSE Filing (PDF)
💡
In Simple Terms
Company filed four-year-old financial results after emerging from bankruptcy proceedings, showing zero sales and a loss of Rs. 291 Lakhs.
🤖 AI Summary
- BKM Industries files Q2 FY23 results (quarter ended 30 Sept 2021) after four-year delay post-NCLT approval
- Zero revenue from operations; net loss Rs. 291 Lakhs; basic EPS negative Rs. 0.44
- Company was under CIRP — management vested with Resolution Professional; NCLT approved resolution plan grants compliance reliefs
- Standalone results: depreciation Rs. 247 Lakhs, finance costs Rs. 9 Lakhs; paid-up equity capital Rs. 655 Lakhs
- Results subject to limited review by statutory auditors; filed under Reg 30 and 33 SEBI LODR
🔢 Key Numbers — exact figures from BSE filing, not rounded
Revenue from Operations
Rs. 0 Lakhs
Other Income
Rs. (37) Lakhs
Net Loss for Period
Rs. (291) Lakhs
Depreciation and Amortisation
Rs. 247 Lakhs
Finance Costs
Rs. 9 Lakhs
Basic and Diluted EPS
Rs. (0.44)
Paid-up Equity Capital
Rs. 655 Lakhs
🏢 How This Affects the Company
Zero revenue indicates the company had no operational business during Q2 FY23 and remains non-operational. No sales pipeline or market activity evident.
Net loss of Rs. 291 Lakhs with negative other income of Rs. 37 Lakhs driven by depreciation (Rs. 247 Lakhs) and finance costs (Rs. 9 Lakhs). Shareholders' equity remains at Rs. 655 Lakhs paid-up capital.
No employee benefits expense recorded in Q2 FY23 (Rs. 0 Lakhs) compared to Rs. 1 Lakh in preceding quarter, indicating minimal or zero workforce activity during the quarter under CIRP.
Company emergence from CIRP carries execution risk on resolution plan implementation. Continued zero-revenue status indicates ongoing distress and operational dormancy, increasing capital depletion risk.
👥 What This Means For Shareholders
✅
Action Required
Review next available quarterly results and board disclosures for evidence of business resumption and resolution plan execution progress.
👤
Who Is Affected
All equity shareholders holding Rs. 655 Lakhs paid-up capital equally. Zero dividends and ongoing losses mean no cash returns and continued capital depletion per share.
🔍
Management Signal
NCLT resolution approval indicates creditors agreed to reorganization plan over liquidation; delayed filing now regularized suggests compliance restoration is underway, but zero revenue signals plan has not yet restored operations.
For information only. Not investment advice. ForgeUp is not SEBI-registered.
👁 Watch List — track these upcoming events
Next quarterly results (Q3/Q4 FY23) filing — check for revenue resumption and operating cash burn rate
NCLT resolution plan compliance progress updates — track asset sales, creditor payouts, management transitions
Auditor's report and management commentary — assess viability of business revival and operational roadmap
HIGH RISK
Post-insolvency dormancy: zero revenue, ongoing losses, four-year filing delay. Resolution plan execution unproven; capital erosion continues. Delisting or further distress remains material risk.
💡 Investor Takeaway
BKM Industries filed Q2 FY23 (quarter ended 30 Sept 2021) results showing zero revenue, net loss Rs. 291 Lakhs, basic EPS negative Rs. 0.44. Four-year delay occurred during CIRP; NCLT-approved resolution plan now provides compliance relief. No evidence of business resumption post-insolvency.
⚖️ Strengths & Concerns
✅ Positives
- NCLT-approved resolution plan grants immunities for past non-compliances, enabling regularization of delayed filings and structured recovery pathway.
- Paid-up equity capital of Rs. 655 Lakhs remains intact; company retains legal entity status and listing despite insolvency resolution.
⚠️ Concerns
- Zero revenue from operations and negative other income of Rs. 37 Lakhs signal complete operational shutdown during Q2 FY23.
- Net loss of Rs. 291 Lakhs with 247 Lakhs depreciation erodes shareholder value; EPS negative Rs. 0.44 reflects value destruction.
📅 Company Track Record
BKM Industries (formerly Manaksia Industries Ltd., CIN L27100WB2011PLC161235) underwent CIRP under IBC 2016. Q1 FY23 results filed 28 March 2026 showed zero revenue, Rs. 58 Lakhs net loss. Q2 FY23 filed same date reflects continued operational shutdown during CIRP period. Company is now post-resolution but operational recovery remains undemonstrated.
Based on publicly available historical data. For context only.