Insilco Limited reported a net loss of ₹276 lakh for the financial year ended March 31, 2026, as the company continues its voluntary liquidation process. The Board of Directors approved the audited financial results for the quarter and year ended March 31, 2026, in a meeting held on May 30, 2026. The company, which has been under voluntary liquidation since June 25, 2021, recorded no revenue from operations during the period, relying solely on other income of ₹37 lakh.

The financial statements were not prepared on a going concern basis due to the suspension of operations at the company's Gajraula plant. The Uttar Pradesh Pollution Control Board had rejected the company's application for consent to operate in October 2019. Consequently, the Board approved the voluntary liquidation process, and assets have been sold, including the Gajraula plant and land in Mehsana. Liquidation proceeds of ₹4.58 per share were distributed to shareholders in March 2025.

Financial Performance

The company’s total income for FY26 stood at ₹37 lakh, a significant decrease from ₹224 lakh in the previous year. Total expenses for the year were ₹304 lakh, down from ₹451 lakh in FY25. The net loss for the year widened to ₹276 lakh compared to a loss of ₹283 lakh in the previous year. Basic and diluted earnings per share (EPS) for the year were reported at (₹0.44).

Liquidation Status and Legal Proceedings

Ms. Kapila Gupta, the Liquidator, provided an update to the Board regarding the status of the voluntary liquidation process under the Insolvency and Bankruptcy Code, 2016. The liquidator has filed a dissolution application before the National Company Law Tribunal (NCLT), Allahabad Bench. The matter is currently listed for hearing on June 12, 2026, as the Income Tax Department had not yet filed its report.

The company is also facing legal proceedings from 36 ex-employees before the Labour Court in Rampur, seeking reinstatement and other reliefs. The Independent Auditor's Report from M/s. Shiv & Associates, Statutory Auditors, includes a qualified opinion regarding the classification of assets and liabilities due to the ongoing liquidation and the uncertainty surrounding the legal proceedings. The auditors noted that the impact of the future course of action for asset realization and liability settlement cannot be ascertained at this stage.

The Board also approved the re-appointment of M/s. APT and Co. LLP, Chartered Accountants, as the Internal Auditor for the financial year 2026-2027.

Insilco Limited has re-appointed M/s. APT and Co. LLP as its internal auditor for the financial year 2026-2027. The Board of Directors approved the re-appointment in its meeting held on May 30, 2026, following the recommendations of the Audit Committee. The decision was taken pursuant to the provisions of Sections 138 read with Companies (Accounts) Rules, 2014 and other applicable provisions of the Companies Act, 2013.

M/s. APT and Co. LLP, a Chartered Accountants firm established in November 1989, brings extensive experience to the role. The firm offers a wide spectrum of services, including assurance, statutory audit, internal audit, risk management, due diligence, health check, compliance audit, secretarial audit, stock audit, transfer pricing, and taxation. Its client base includes various corporate entities, banks, financial institutions, and NBFCs.

The re-appointment details were submitted to the Bombay Stock Exchange Limited in compliance with amended Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and the SEBI Master Circular dated November 11, 2024. The disclosure confirmed that the appointment is a re-appointment for the specified financial year.

Insilco Limited is currently under voluntary liquidation effective June 25, 2021. The registered office of the company is located at B-23, Sector-63, Noida, Uttar Pradesh. The communication was signed by Priya Singhal, Company Secretary and Compliance Officer.

Key Details of Re-appointment