Insilco Posts Loss of Rs 2.83 crore
By Ankur Chandra | Updated at: May 31, 2025 10:45 PM IST
NOIDA, May 26, 2025 – Insilco Ltd (BSE: 500211) has announced its financial results for FY25. The results are negative as the company incurred a net loss of ₹283 lakh when compared to a profit of ₹3,136 lakh in FY24.
The main reason for the loss was the total shutdown of the company’s manufacturing operations in the previous year.
Financial Highlights (Standalone)
| Particulars | FY25 | FY24 | YoY Change |
|---|---|---|---|
| Revenue from Operations | ₹0 Cr | ₹0 Cr | – |
| Other Income | ₹2.24 Cr | ₹41.66 Cr | -94.62% |
| Total Income | ₹2.24 Cr | ₹41.66 Cr | -94.62% |
| Total Expenses | ₹4.51 Cr | ₹7.28 Cr | -38.04% |
| Net Profit / (Loss) | ₹(2.83) Cr | ₹31.36 Cr | — |
| EPS (₹) | (0.45) | 5.00 | — |
| Total Assets | ₹10.28 Cr | ₹43.58 Cr | -76.41% |
| Net Worth | ₹8.09 Cr | ₹39.65 Cr | -79.60% |
The drop in income was primarily due to the absence of gains from asset disposals, which had substantially boosted FY24 performance.
Voluntary Liquidation and Asset Disposal
The company operated through a single manufacturing plant in Gajraula, Uttar Pradesh and has been in voluntary liquidation since 2021. Now, its only plant has also shit down operations as the UP Pollution control Board did not provide the company with the needed environmental approvals.
During the process:
- The company sold its Gajraula Plant was sold for ₹42 crore to Dykes and Dunes Enterprises Pvt Ltd.
- Non-agriculture land in Mehsana, Gujarat, was sold for ₹23 lakh.
Total liquidation proceeds of ₹2.87 crore were distributed at ₹4.58 per share to eligible shareholders. Unclaimed proceeds worth ₹64.15 lakh remain as of May 20, 2025.
Legal Proceedings
The company is engaged in litigation with 36 former employees contesting their termination under the Voluntary Retirement Scheme (VRS). Although hearings are ongoing at the Labour Court in Rampur, a prior ruling upheld the legitimacy of pleadings filed by the Liquidator.
Auditor’s Opinion
M/s Shiv & Associates issued a qualified audit opinion, noting:
- The financials are not prepared on a going-concern basis due to liquidation.
- Uncertainty regarding the final outcome of employee legal claims.
- Asset and liability reclassifications may undergo further revisions during the liquidation process.
Despite this, internal financial controls were deemed adequate and effective.
Corporate Announcements
- Internal Auditor Reappointment: M/s APT and Co. LLP reappointed for FY26.
- Secretarial Auditor Appointment: Mr. Nityanand Singh, Proprietor of M/s Nityanand Singh & Co., was appointed for FY26–FY30, subject to shareholder approval.
Outlook
With all major assets sold and admitted claims of ₹86.9 lakh settled, Insilco is nearing the final stages of its liquidation. The company plans to file its final dissolution application post the settlement of all uncashed proceeds as per IBBI guidelines.
REF: https://www.bseindia.com/xml-data/corpfiling/AttachLive/94d01e01-7a38-4da9-97ca-70ec03ed7fb9.pdf
