BIL Vyapar Limited Q1 2026 Unaudited Results Show Losses Amid CIRP; Financials Prepared on Liquidation Basis
BIL Vyapar Limited (formerly known as Binani Industries Limited) has released its unaudited financial results for the first quarter ended June 30, 2026. The results were reviewed by TLB&co Chartered Accountants. Given that the company is undergoing Corporate Insolvency Resolution Process (CIRP), the financial statements have been prepared on a liquidation basis, reflecting significant accumulated losses and liabilities exceeding total assets.The unaudited results for the quarter ended June 30, 2026 show Total Income of INR 173.69 Lakhs, with Revenue from Operations standing at INR 150.99 Lakhs. The company reported a Profit/(Loss) before tax amounting to (INR 69.69) lakh and a Net Profit/(Loss) of (INR 3.34) lakh for the quarter.
For comparison, the results for the full financial year ended March 31, 2026, show Total Income of INR 3,138.49 Lakhs against Revenue from Operations of INR 3,138.49 Lakhs. The company recorded a Profit/(Loss) before tax of (INR 21,766.17) lakh and a Net Profit/(Loss) of (INR 3.34) lakh.
As of June 30, 2026, the company has accumulated losses amounting to INR 21,790.61 lakhs, which have fully eroded its paid-up equity capital, valued at INR 3,138.49 lakhs. The balance sheet indicates that liabilities exceeded total assets by INR 18,652.11 lakhs.
Major Operational Uncertainties and Commitments
The review highlighted several ongoing transactions and commitments whose ultimate financial impact remains uncertain due to the status of the CIRP and pending litigation.Details regarding corporate guarantees, asset sales, and litigation matters are as follows:
| Financial Aspect | Detail |
|---|---|
| Corporate Guarantees | The aggregate outstanding balance for Edayar Zinc Limited (EZL) is INR 8,025 Lakhs (excluding interest). A provision for loss allowance of INR 2,149.10 Lakhs was maintained concerning corporate guarantees to EZL and BIL Infratech Limited. |
| Land Sale Dispute | Land sold to M/s. Afamado Advisory Services Private Limited (Afamado) for Rs. 3,500 lakhs is currently subject to litigation initiated by MWBIE. MWBIE has lodged a claim of Rs. 9,494.92 lakhs with the Resolution Professional, with INR 59.40 lakhs admitted. |
| Ahmedabad Property | An Agreement for Sale of immovable property in Ahmedabad was entered on May 22, 2025, at a loss of INR 33.51 Lakhs. The sale has not yet been recognized in the FY ended March 31, 2026, as the matter is pending appeal before the Hon'ble National Company Law Appellate Tribunal (NCLAT). |
| Sirohi Land | Although the company recorded Sirohi Land, searches indicate it was sold and registered earlier. The Resolution Professional has filed an application to avoid this transaction. |
Financial Preparations and Commitments
The unaudited financial results were prepared on a liquidation basis, meaning assets are measured at the lower of carrying amount and estimated net realisable value (NRV), while liabilities are stated at their estimated settlement amounts. This approach was adopted because a going concern assumption is not appropriate for the company given its current financial position.The Statement also noted Income Tax related receivables aggregating to INR 1,144.61 lakhs. However, due to uncertainty regarding recovery and lack of supporting records, no provision or adjustment has been made in respect of these balances pending the outcome of CIRP proceedings.
In other matters, the company recorded a loss on derecognizing its investment in Global Composite Holding Inc., a wholly owned foreign subsidiary that was dissolved on May 21, 2026.
BILVYAPAR Stock Price Movement
Bil Vyapar Limited’s equity rallied today, settling at ₹4.14 after the stock gained 0.98% in post-market trading. The shares traded for 5,758 units during the day's session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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