Neogem India Ltd

Neogem India Ltd’s Financial Update: Key Concerns & Restructuring Efforts 🔍

- Re-submitted unaudited financial results for Q1 (June 30, 2025) & Q2 (Sept 30, 2025) with Limited Review Report after initial omission.

- Manufacturing halted since Jan 1, 2018; restructuring/revival in progress.

- Q1 2025: Loss of ₹8,19,582.57, negative net worth of ₹35,80,44,803. Current liabilities could exceed assets if provisions for unrealized debtors (₹41,10,67,159) are made.

- Q2 2025: Loss of ₹16,83,092.00, negative net worth of ₹35,89,08,312. Similar concerns about liabilities vs. assets.

- Outstanding secured loans: Punjab National Bank (₹10 Cr) & Bank of India (₹5 Cr), classified as NPAs since FY 2016-17. No provision for interest due to non-confirmation.

- Sundry debtors (₹41,10,67,159) & creditors (Q1: ₹15,98,80,243 / Q2: ₹15,99,21,460) outstanding for over 3 years, unconfirmed.

- Cash/bank balances frozen due to defaults with PNB & Bank of India.

- Unconfirmed provision for expenses (rent & water charges): Q1 (₹1,85,52,555) / Q2 (₹1,92,25,366).

- Auditors issued adverse opinion, citing material uncertainties about the company’s ability to continue as a going concern.

- FY 2024-2025 auditor qualifications may still impact FY 2025.