Benara Bearings Reports ₹2,748.22 Crore Loss, Faces Auditor Disclaimer Over Financial Irregularities 53 minutes ago Today
Benara Bearings and Pistons Limited reported a net loss of ₹2,748.22 crore, up from ₹312.73 crore last year. Auditors issued a disclaimer of opinion, citing concerns over inventory verification, asset recoverability, and non-performing assets. Revenue declined to ₹1,091.52 crore. The company is negotiating one-time settlements with lenders, including a ₹3,000 crore settlement against ₹5,138 crore dues. It faces tax demands of ₹5,150.47 crore for Income Tax and ₹911.07 crore for GST. Management changes include a new CFO appointment and the resignation of the Company Secretary.
Benara Bearings and Pistons Appoints New CFO Amid Leadership Changes 2 days ago
Benara Bearings Reports Substantial Losses, Management Changes Amid Financial Challenges 4 days ago