BKM Industries Limited (formerly Manaksia Industries Ltd.) has submitted its delayed standalone and consolidated financial results for the quarter ended December 31, 2022, following the completion of Corporate Insolvency Resolution Process (CIRP) proceedings. The financial results were approved by the Board of Directors at its meeting held on March 28, 2026.

Financial Performance Overview

The company reported challenging financial performance during the quarter, with manufacturing activities remaining non-operational. The standalone financial results show minimal operational activity with significant losses continuing.

Balance Sheet Position

As of December 31, 2022, the company's financial position reflects the impact of the insolvency proceedings. The balance sheet shows total assets of ₹17,902 lakhs, with significant liabilities outweighing equity.

CIRP Resolution and Compliance Regularization

The company underwent Corporate Insolvency Resolution Process under the Insolvency and Bankruptcy Code, 2016, pursuant to orders from the National Company Law Tribunal. During this period, the management was vested with the Resolution Professional, which prevented the timely finalization and submission of financial results within SEBI LODR prescribed timelines.

Following the Resolution Plan approval by the NCLT under Sections 30 and 31 of the Insolvency and Bankruptcy Code, 2016, the company has been granted appropriate reliefs and immunities regarding past non-compliances, including the delay in financial results submission.

Cash Flow Analysis

The cash flow statement reveals the company's operational challenges during the period:

Business Operations and Outlook

BKM Industries Limited operates in the manufacture of Packaging and Engineering Products. However, manufacturing activities remained non-operational during the quarter and nine-month period ended December 31, 2022. The company's paid-up equity share capital stands at ₹655 lakhs with a face value of ₹1 per share.

The financial results have been prepared in accordance with Indian Accounting Standards (Ind-AS) and have undergone Limited Review by the company's Statutory Auditors. The consolidated financial results mirror the standalone performance, indicating no significant subsidiary operations during the period.

Regulatory Compliance

The submission was made pursuant to Regulation 30 read with Regulation 33 of SEBI (LODR) Regulations, 2015. The company has now regularized its compliance obligations following the successful completion of the CIRP process and implementation of the approved Resolution Plan.

BKM Industries Limited has submitted its delayed financial results for the quarter ended December 31, 2021, following the completion of its Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016. The company, formerly known as Manaksia Industries Ltd., operates in the manufacture of packaging and engineering products.

Financial Performance Overview

The company reported significant losses across both standalone and consolidated results for the quarter ended December 31, 2021. Manufacturing activities remained non-operational during the reporting period, contributing to the challenging financial position.

Standalone Financial Results

Consolidated Financial Results

Expense Analysis

The company's expense structure for Q3 FY22 was dominated by depreciation and amortisation expenses of ₹247 lakhs, while other expenses accounted for ₹26 lakhs. No revenue from operations was recorded during the quarter, and the company incurred no finance costs or employee benefit expenses.

Balance Sheet Position

As of December 31, 2021, the company maintained total assets of ₹17,899 lakhs, comprising non-current assets of ₹9,725 lakhs and current assets of ₹8,174 lakhs. The equity base stood at ₹2,073 lakhs, with paid-up equity share capital of ₹655 lakhs.

Key Balance Sheet Items

Cash Flow Analysis

The company's cash flow statement revealed net cash outflow of ₹90 lakhs from operating activities for the nine months ended December 31, 2021. However, financing activities generated a positive cash flow of ₹106 lakhs, primarily from repayment of short-term borrowings. The closing cash and cash equivalents stood at ₹25 lakhs.

CIRP Resolution and Compliance

The delayed submission of financial results was attributed to the company's involvement in the Corporate Insolvency Resolution Process, during which management control was transferred to a Resolution Professional. Following the Hon'ble National Company Law Tribunal's approval of the Resolution Plan under Sections 30 and 31 of the Insolvency and Bankruptcy Code, 2016, the company received appropriate reliefs and immunities for past non-compliances.

The financial results were prepared in accordance with Indian Accounting Standards (Ind AS) and subjected to limited review by statutory auditors. The Board of Directors approved these results at their meeting held on March 28, 2026, marking the regularization of the company's compliance obligations post-CIRP resolution.