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Simbhaoli Sugars Ltd ( (IN:SIMBHALS) ) has issued an update.
Simbhaoli Sugars Limited has reported its unaudited financial results for the quarter and nine months ending December 31, 2024, highlighting significant challenges including continuous cash losses and a complete erosion of net worth. The company is undergoing a Corporate Insolvency Resolution Process (CIRP) due to defaults in credit facility repayments, with proceedings initiated by lenders in various legal forums. An interim resolution professional has taken control of the company’s operations, and the financial results indicate uncertainties about the company’s ability to continue as a going concern. The auditors have identified multiple qualifications in their report, emphasizing the financial instability and pending decisions, including the non-provision of significant interest expenses and liabilities.
More about Simbhaoli Sugars Ltd
Simbhaoli Sugars Limited operates in the sugar industry, primarily focusing on the production and sale of sugar and other related products. The company is engaged in the manufacture of sugar, ethanol, and power, with a market presence predominantly in India.
YTD Price Performance: -16.56%
Average Trading Volume: 4,657
Current Market Cap: 705M INR
For an in-depth examination of SIMBHALS stock, go to TipRanks’ Stock Analysis page.