Shree Hanuman Sugar Reports Rs 52.54 Crore Loss Under Insolvency Process

Shree Hanuman Sugar & Industries , currently undergoing Corporate Insolvency Resolution Process (CIRP), has reported a significant net loss for the half-year ended September 30. The company's financial results reveal a challenging period marked by minimal income and ongoing insolvency proceedings.

Financial Performance

The sugar manufacturer reported a net loss of Rs 52.54 crore for the half-year, with minimal revenue of Rs 0.69 crore from its sugar segment. This decline in financial performance is reflected in the following key figures:

Insolvency Proceedings and Operational Challenges

The company's financial struggles are further highlighted by its ongoing Corporate Insolvency Resolution Process:

• CIRP initiated under the Insolvency and Bankruptcy Code 2016
• The sugar mill at Motihari, Bihar remains non-operational due to financial constraints and operational challenges

Auditor's Opinion

While specific details about the auditor's opinion are not provided, it's important to note that companies under CIRP often face scrutiny regarding their ability to continue as a going concern.

The significant gap between the company's income and expenses, coupled with the insolvency process and non-operational status of its sugar mill, presents a challenging outlook for Shree Hanuman Sugar & Industries. Stakeholders and potential investors should closely monitor the progress of the CIRP and any potential resolutions that may emerge from this process.