Key Quantitative Figures
Financial Results for Quarter Ended June 30, 2024:
- Revenue from operations: ₹0 lakh
- Other Income: ₹3 lakh
- Total Income: ₹3 lakh
- Total Expenses: ₹8 lakh
- Profit/(Loss) before tax: ₹(5) lakh
- Tax expense: ₹0 lakh (Current tax: ₹0, Deferred tax: ₹0)
- Profit/(Loss) for the period from continuing operations: ₹(5) lakh
- Profit/(Loss) from discontinued operations: ₹(142.06) lakh
- Total Profit/(Loss) for the period: ₹(142.06) lakh
- Other Comprehensive Income: ₹(37.67) lakh
- Total Comprehensive Income: ₹(179.73) lakh
- Earnings per equity share (Basic & Diluted): ₹(0.26)
Comparative Figures:
- Q1 FY24 (Mar 31, 2024): Loss ₹(136.80) lakh
- Q2 FY23 (Jun 30, 2023): Loss ₹(148.06) lakh
- FY23 (Mar 31, 2023): Loss ₹(565.99) lakh
Dates of Action
- Board meeting approving past quarterly results: June 2026
- BSE notice date: August 31, 2026
- Company response date: September 2, 2026
- Auditor's report date: June 2, 2028
Parties Involved
- Regulator: BSE Limited, SEBI
- Auditors: V. S. Somani & Co., Chartered Accountants
- Management: Shyam B. Ghia, Managing Director (DIN: 005264)
Stated Rationale for Delay
The company attributes the delay to severe administrative difficulties caused by major staff shortages in finance, accounting, and compliance teams. This created a backlog over past quarters while management simultaneously worked to resolve other compliance issues.
Financial Impact Disclosure
The Limited Review Report contains qualified conclusions regarding:
1. Non-provision for finance cost on borrowings exceeding 14.25% p.a. and penal interest (impact not determinable)
2. Material uncertainty regarding going concern due to continuous losses, complete erosion of net worth, debt servicing delays, and significant overdue liabilities
Pending Results Disclosure
The company intends to disclose financial results for 21 quarters: September 2020, December 2020, March 2021, June 2021, September 2021, December 2021, March 2022, June 2022, September 2022, December 2022, March 2023, June 2023, September 2023, December 2023, March 2024, June 2024, September 2024, December 2024, and March 2025.
Additional Information
Results will be uploaded on company website: https://futurapolyesters.in/
Company requests BSE to consider their situation and disclosure plan to lift trading suspension.