BKM Industries Limited (formerly Manaksia Industries Ltd.) has taken significant steps toward normalizing operations following its successful completion of the Corporate Insolvency Resolution Process (CIRP). The company's board of directors approved multiple financial results and key appointments during meetings held on 28th March, 2026 and 29th March, 2026.

Financial Results Approval

The board approved the standalone and consolidated financial results for multiple periods that had been pending due to the company's insolvency proceedings. The approved results have been prepared in accordance with applicable accounting standards and subjected to limited review by statutory auditors where applicable.

The company explained that these financial results could not be finalized and submitted within the timelines prescribed under SEBI (LODR) regulations due to the Corporate Insolvency Resolution Process, during which the management was vested with the Resolution Professional.

Key Corporate Developments

The board meeting addressed several critical matters in furtherance of implementing the Resolution Plan approved by the Hon'ble National Company Law Tribunal under Sections 30 and 31 of the Insolvency and Bankruptcy Code, 2016.

Leadership Appointments

Corporate Restructuring Actions

The board took note of several restructuring measures:

• Capital reduction as approved in previous board meeting
• Allotment of securities to new promoters as per the Resolution Plan
• Approval of Board's Reports and Annual Reports for Financial Years 2020-21, 2021-22, 2022-23, 2023-24 and 2024-25

Trading Resumption Initiative

A significant development is the board's approval to file applications with BSE Limited and National Stock Exchange of India Limited for recommencement of trading of the company's equity shares. The company has authorized necessary actions to comply with applicable regulations and procedures for this resumption.

Regulatory Compliance and Relief

Pursuant to the Resolution Plan approved by the Hon'ble National Company Law Tribunal, BKM Industries has been granted appropriate reliefs and immunities regarding past non-compliances, including delays in submission of financial results. The company has now regularized these compliances as part of the effective implementation of the Resolution Plan.

The board meeting, which commenced on Saturday, 28th March, 2026 at 18:00 hours and concluded on Sunday, 29th March, 2026 at 13:30 hours, represents a crucial milestone in the company's journey toward operational normalization following the successful completion of its insolvency resolution process.

BKM Industries Limited (formerly Manaksia Industries Ltd.) has submitted its delayed financial results for the quarter ended September 30, 2022, following completion of its Corporate Insolvency Resolution Process (CIRP). The results were approved by the Board of Directors on March 28, 2026, marking a significant delay in regulatory compliance due to insolvency proceedings.

Regulatory Filing and Compliance

The company submitted its standalone and consolidated financial results under Regulation 33 of SEBI (LODR) Regulations, 2015, to both BSE Limited (Scrip Code: 539043) and National Stock Exchange of India Limited (Scrip Code: BKMINDST). The delayed submission was attributed to the Corporate Insolvency Resolution Process under the Insolvency and Bankruptcy Code, 2016, during which management control was vested with the Resolution Professional.

Following approval of the Resolution Plan by the National Company Law Tribunal under Sections 30 and 31 of the Insolvency and Bankruptcy Code, 2016, the company received appropriate reliefs and immunities regarding past non-compliances, including delays in financial result submissions.

Financial Performance Overview

The company reported challenging financial performance during the quarter, with manufacturing operations remaining non-operational throughout the period. Both standalone and consolidated financial results show identical figures, indicating no subsidiary operations during the reporting period.

The company's total income remained minimal at ₹1 lakh, derived entirely from other income sources as revenue from operations was nil. Total expenses of ₹58 lakhs comprised primarily depreciation and amortisation expense of ₹32 lakhs and other expenses of ₹26 lakhs.

Balance Sheet Position

As of September 30, 2022, BKM Industries maintained a substantial asset base despite operational challenges. The company's financial position demonstrates the preservation of core assets during the insolvency process.

Property, plant and equipment valued at ₹3,455 lakhs and investments worth ₹4,320 lakhs constitute the major components of non-current assets. Current assets include inventories of ₹2,193 lakhs and trade receivables of ₹4,956 lakhs.

Cash Flow Analysis

The company's cash flow statement reveals operational challenges with net cash outflow from operating activities of ₹51 lakhs for the quarter ended September 30, 2022. However, financing activities provided positive cash flow of ₹397 lakhs through repayment adjustments of short-term borrowings.

Business Operations and Compliance Status

BKM Industries operates in the manufacture of packaging and engineering products. The financial results indicate that manufacturing activities remained non-operational during both the quarter and half-year periods. The company has now regularized compliance requirements by submitting the delayed financial results in continuation of the approved Resolution Plan.

The financial results have been prepared in accordance with Indian Accounting Standards (Ind AS) and have been subject to limited review by statutory auditors Prabhat & Co, Chartered Accountants. The submission represents a significant step toward normalizing regulatory compliance following the completion of the insolvency resolution process.