Mcleod Russel India Ltd

⚠️ McLeod Russel India Reports Q3 Results Amid Significant Financial Challenges

• Q3 revenue from operations: ₹39,831 lakhs

• Net loss for Q3: ₹3,073 lakhs; nine-month loss: ₹19,636 lakhs

• Inter-corporate deposits of ₹2,86,050 lakhs under scrutiny with recoverability concerns

• ₹1,01,039 lakhs provision made earlier may understate actual losses

• Current liabilities exceed current assets, raising going concern risks

• Borrowings of ₹1,46,107 lakhs under resolution with NARCL and lenders

• Multiple adjustments not recognized including interest on loans and statutory liabilities of ₹18,236 lakhs

• Arbitral award of ₹50,896 lakhs plus costs against promoter group entities, legal challenge pending

• Predecessor auditor issues from FY2019 remain unresolved