JBF Industries Limited has announced its audited financial results for the quarter and year ended March 31, 2026, approved by the Resolution Professional. The company, currently under the Corporate Insolvency Resolution Process (CIRP), reported a net loss of ₹541 lakh for the financial year 2025-26, compared to a net loss of ₹527 lakh in the previous year. For the quarter ended March 31, 2026, the net loss stood at ₹260 lakh.

Financial Performance

The company's revenue from operations was nil for both the quarter and the year ended March 31, 2026. Total income for the year was ₹15 lakh, derived entirely from other income. Total expenses for the year amounted to ₹442 lakh, up from ₹274 lakh in the previous year. The company reported an exceptional item of ₹113 lakh for the year, representing provisions for doubtful debts and losses due to the repossession of secured assets.

Key Financial Metrics

The following table outlines the key financial figures for JBF Industries Limited for the year ended March 31, 2026:

Audit Qualifications and Going Concern

The statutory auditors, S. C. Ajmera & Co., issued a qualified opinion on the standalone financial results. The qualification primarily stems from the company's decision to provide interest at nil percent per annum on term loans, cash credit limits, and cumulative redeemable preference shares aggregating ₹2,47,379 lakh. This resulted in a lower provision of finance costs by ₹45,283 lakh for the year. Had the interest been provided at the documented rate, the net loss for the year would have been significantly higher at ₹45,824 lakh.

The auditors also emphasized significant material uncertainty regarding the company's "going concern" status. The report notes that the company's ability to sustain itself and generate revenues has been critically dented, leading to the conclusion that the company ceases to continue as a going concern. Additionally, the auditors highlighted the non-preparation of consolidated financial statements due to the non-receipt of subsidiary financial statements and the vacancy of key managerial positions including CEO, CFO, and Company Secretary.

JBF Industries Limited has approved the appointment of M/s Elias L. Rodrigues & Co. as its Secretarial Auditor for a term of five years. The decision was taken by the Resolution Professional during a meeting held on May 19, 2026. The appointment is subject to the approval of the shareholders.

Appointment Details

The firm has been appointed for a five-year tenure, effective from April 1, 2025, to March 31, 2030. M/s Elias L. Rodrigues & Co. is a firm of Practising Company Secretaries, registered with the Institute of Company Secretaries of India (ICSI). The firm's registration number is S2018MH614100.

Firm Profile

M/s Elias L. Rodrigues & Co. was established in 2018 by Mr. Elias L. Rodrigues, a fellow member of the ICSI. The firm specializes in secretarial audit, corporate advisory services, transactional services, legal due diligence, and compliance management. It holds a Peer Review Certificate (No. 7005/2025) issued by the Peer Review Board of ICSI.

The disclosure regarding the relationship between directors was stated as not applicable.