SRM Energy
12.38
-0.25(-1.98%)
Market Cap₹11.17 Cr
PE Ratio-
IndustryPower
Company Performance:
1D-1.98%
1M-2.44%
6M+5.81%
1Y-32.42%
5Y+478.50%
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Latest news about SRM Energy
SRM Energy Reports Steep Loss in Q1, Faces Going Concern Issues 1 day ago Yesterday
SRM Energy Limited, a power generation company, reported a standalone net loss of Rs 139.70 crore for Q1 FY2023-24, a significant increase from the Rs 8.70 lakh loss in the previous quarter. The company faces severe operational challenges with no revenue, fully eroded net worth, and liabilities exceeding assets. SRM Energy made a Rs 131.00 lakh impairment provision on its investment in its subsidiary, SRM Energy Tamilnadu Private Limited (SETPL), which is now classified as an asset held for sale. SETPL has approached NCLT for insolvency resolution and received a SEBI attachment order for a Rs 4,326.56 crore loan. Auditors have raised concerns about the company's ability to continue as a going concern.
SRM Energy Board Approves Share Transfer to Holding Company, Initiates Postal Ballot Process 9 days ago