CMI Limited Approves Audited Financial Results for the Quarter and Year Ended 31st March 2025
CMI Limited approved audited financial results for the quarter and year ended March 31, 2025, during CIRP. Auditors expressed a modified opinion due to going concern and Ind AS concerns.
The company is under CIRP, has significant accumulated losses, and faces uncertainties about its ability to continue as a going concern, indicating a high impact on its financial stability.
The announcement includes a modified audit opinion and mentions significant financial losses and concerns about the company's ability to continue as a going concern.
* CMI Limited announced the approval of audited financial results for the quarter and year ended 31st March 2025, during an insolvency resolution process (CIRP). * The Board Meeting was held on 7th November 2025, with the meeting commenced at 05:00 P.M. and concluded at 05:50 P.M. * The company's accumulated losses as of 31st March 2025, stood at ₹16,247.28 lakh against a paid-up share capital of ₹1,603.07 lakh, resulting in complete erosion of net worth. * The auditors have expressed a modified opinion on the financial results, citing concerns about the company's ability to continue as a going concern and non-compliance with various Ind AS standards. * The audit report also highlights the company is under Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016 (IBC), and the powers of the Board of Directors stand suspended. * Total Income stood at ₹5,807.70 lakh and Net Loss stood at ₹1,103.16 lakh for the year ended 31st March 2025.
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CMI Limited filed this with the NSE as a statutory disclosure, categorised under quarterly results. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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