SKIL Infrastructure Limited reported a consolidated net profit of ₹250.40 lakh for the quarter ended September 30, 2025. This marks a significant improvement from the net loss of ₹26,045.34 crore recorded in the corresponding quarter of the previous year.

The company is currently undergoing the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code (IBC). The unaudited financial results were approved by the Resolution Professional Committee on September 8, 2026.

Financial Performance

Total revenue for the quarter stood at ₹263.37 lakh, entirely derived from other income. This compares to total revenue of ₹12.16 lakh in the same period last year. Revenue from operations remained nil for both periods.

Total expenses decreased to ₹12.97 lakh from ₹20.25 lakh in the prior year quarter. Employee benefit expenses accounted for ₹9.04 lakh, while provisions for CIRP costs amounted to ₹3.68 lakh. Finance costs remained nil.

Balance Sheet Position

As of September 30, 2025, total consolidated assets stood at ₹19,454.50 lakh, an increase from ₹14,957.08 lakh as of March 31, 2025. Current assets dominated the balance sheet at ₹17,514.77 lakh, driven largely by other bank balances of ₹16,472.13 lakh.

Equity share capital remained unchanged at ₹21,657.12 lakh. However, other equity showed a deficit of ₹2,578.57 crore, reflecting accumulated losses. Total borrowings under current liabilities stood at ₹16,676.69 crore.

Auditor Qualifications

The limited review report by AMS & Co LLP included several qualifications:

• Claims admitted during CIRP may differ from book values, with no adjustments made pending final outcomes.
• Material uncertainty exists regarding the company's ability to continue as a going concern due to ongoing insolvency proceedings.
• Unreconciled intercompany loan differences of approximately ₹16.19 lakh between the holding company and subsidiary SKIL Advanced Systems Pvt Ltd.
• Inability to verify recoverability of ₹1,028.69 lakh receivable from SKIL Group Employees Welfare Trust.
• Restrictions in review scope due to unavailability of complete bank statements for certain accounts.

What the Numbers Show

The transition from a massive loss to a small profit is primarily driven by the absence of exceptional items in the current quarter. In the prior year quarter, an exceptional loss of ₹26,044.53 crore significantly impacted the bottom line. Without such non-recurring charges, operational losses narrowed considerably, though the company generated no revenue from core operations.

SKIL Infrastructure Limited has scheduled its sixth Committee of Creditors (CoC) meeting for June 2, 2026, at 04:00 P.M. through Audio-Visual means in virtual mode. The Resolution Professional, Mr. Purusottam Behera, communicated this pre facto intimation to the stock exchanges pursuant to Regulation 30 and Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company remains under the Corporate Insolvency Resolution Process (CIRP) following an order by the Hon'ble National Company Law Tribunal (NCLT), Mumbai, dated February 1, 2024.

The insolvency proceedings have previously hindered the company's ability to file financial results on time, including for the quarter and year ended March 31, 2026. The Hon'ble National Company Law Appellate Tribunal (NCLAT) initially stayed the constitution of the CoC via an order dated February 12, 2024, but vacated the stay on October 15, 2025. The first CoC meeting was subsequently held on November 3, 2025, where members approved the appointment of Mr. Purusottam Behera as the Resolution Professional.

Operational and Compliance Challenges

The Resolution Professional encountered significant non-cooperation from the in-house Company Secretary, who is also a Key Managerial Personnel (KMP). This led to the engagement of an external Company Secretary firm to ensure statutory and regulatory compliances. Additionally, statutory auditors had declined to finalize accounts for the quarter ended September 30, 2024, unless outstanding past dues from the pre-CIRP period were cleared.

Following the auditors' continued refusal, the Resolution Professional filed a non-cooperation application under Section 19 of the Insolvency and Bankruptcy Code (IBC), being IA No. 4015 of 2025, before the Hon'ble NCLT on August 23, 2025. The auditors subsequently expressed their willingness to cooperate via an email dated October 31, 2025. Despite this, the delays resulted in the company only recently finalizing results for the quarters ended September 30, 2024, and December 31, 2024.

Pending Filings and Future Actions

SKIL Infrastructure Limited is currently compiling and finalizing pending financial results for subsequent periods up to the current reporting period in a phased manner. The company assured the stock exchanges that it would make every effort to prepare and submit the pending financial statements at the earliest opportunity.