Binny Mills Limited

Financial Performance Summary

Quarterly Performance (Q2 FY27)

  • Total Income: ₹236.61 lakhs (Revenue from Operations: ₹190.20 lakhs, Other Income: ₹46.42 lakhs)
  • Total Expenditure: ₹481.35 lakhs
  • Cost of materials consumed: ₹2.92 lakhs
  • Purchase of stock-in-trade: ₹112.66 lakhs
  • Employee Benefit Expenses: ₹8.28 lakhs
  • Finance Cost: ₹335.93 lakhs
  • Depreciation: ₹0.51 lakhs
  • Other Expenses: ₹37.74 lakhs
  • Loss before tax: ₹244.73 lakhs
  • Tax Expense: Current tax ₹17.77 lakhs, Deferred tax credit ₹28.17 lakhs
  • Net Loss: ₹234.33 lakhs
  • EPS: Basic and diluted (₹9.07) per share (face value ₹10)

Half-Year Performance (H1 FY27)

  • Total Income: ₹441.33 lakhs (Revenue from Operations: ₹349.15 lakhs, Other Income: ₹92.18 lakhs)
  • Total Expenditure: ₹939.71 lakhs
  • Loss before tax: ₹498.38 lakhs
  • Net Loss: ₹523.95 lakhs
  • EPS: Basic and diluted (₹20.28) per share

Comparative Figures

  • Q2 FY26 Net Loss: ₹266.08 lakhs
  • H1 FY26 Net Loss: ₹564.29 lakhs
  • FY26 Full Year Net Loss: ₹1,942.66 lakhs

Balance Sheet Highlights (as at 30-Sep-2026)

  • Total Assets: ₹17,275.35 lakhs
  • Investment Property: ₹15,904.67 lakhs
  • Cash and cash equivalents: ₹361.16 lakhs
  • Inventories: ₹165.20 lakhs
  • Trade receivables: ₹47.53 lakhs
  • Total Equity: Negative ₹25,345.70 lakhs (Equity Share capital: ₹258.33 lakhs, Other Equity: Negative ₹25,604.02 lakhs)
  • Total Liabilities: ₹42,621.05 lakhs
  • Borrowings (Non-current): ₹14,470.91 lakhs
  • Other financial liabilities: ₹24,611.08 lakhs
  • Provisions: ₹102.52 lakhs

Significant Notes and Disclosures

Litigation and Provisions

1. Demerger Liability: Company provided ₹9.73 crores for liabilities relating to erstwhile Binny Limited (parent company), though recoverable.

2. Bengaluru Rent Litigation: Case in City Civil Judge Court of Bengaluru with M/s Square Projects Associates decided in company's favor. However, provision of ₹28.65 lakhs for possible rent and damages liability retained in books. Company continues to pay property tax shown as receivable.

3. Labour Court Matter: Additional Labour Court, Chennai case with Chennai Perunagar Jananayaka Thozhilalar Sangam (Union) decided in favor of union for 8 out of 10 employees. Total award: ₹36.52 lakhs. Company filed stay but made provision for awarded amount.

4. Pending Litigations: Company, as resulting company of demerger, was not provided complete list of pending litigations from erstwhile Binny Ltd. Liabilities will be provided as they arise.

Promoter Shareholding Changes

  • During June 2026, inter-se transfers of equity shares by way of gift among promoters and promoter group members pursuant to Memorandum recording a Prior Oral Family Agreement (MoFA).
  • Company was not a party to the arrangement.
  • Transfers exempt from open offer requirements under SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
  • No impact on company's operations, management, financial position or control.
  • All statutory and regulatory compliances completed.

Accounting Policies

  • Financial results prepared in compliance with Companies (Indian Accounting Standards) Rules, 2015 (Ind AS) under Section 133 of Companies Act, 2013.
  • Finance cost includes fair market value measurements on advance given to related party as per Ind AS.
  • Previous period figures regrouped/rearranged for consistency.

Auditor's Review

  • Reviewed by Ramesh and Ramachandran Chartered Accountants (FRN: 002981S)
  • Conducted under Standard on Review Engagements (SRE) 2410
  • No material misstatement found in the accompanying statement
  • Review provides moderate assurance, less than an audit

Capital Structure

  • Paid-up equity share capital: ₹258.33 lakhs (face value ₹10 per share)
  • No change in share capital during the period