Neogem India Ltd

Neogem India Ltd’s Revised Financials Reveal Deepening Losses & Uncertain Future 📉

- Revised unaudited financials for Q1 (June 30, 2025) & Q2 (Sept 30, 2025) submitted after initial omission of limited review report.

- Q1 loss: ₹8,19,582.57; Q2 loss: ₹16,83,092.00.

- Negative net worth: ₹35.80Cr (Q1) & ₹35.89Cr (Q2).

- Unrealized sundry debtors (over 3 years): ₹41.10Cr—unprovisioned, risking liability imbalance.

- Manufacturing halted since Jan 1, 2018; revival plans unclear.

- Working capital loans (PNB: ₹10Cr, BoI: ₹5Cr) classified as NPAs since FY2016-17 due to unpaid interest.

- No bank balance confirmations since March 31, 2016; interest obligations unaccounted for.

- Unconfirmed creditors (over 3 years): ₹15.99Cr (Q1 & Q2).

- Cash/bank balances frozen due to defaults with PNB & BoI.

- Unconfirmed provision for expenses (Rent/Water): ₹1.85Cr (Q1) & ₹1.92Cr (Q2).

- Auditors issued adverse opinion, citing material uncertainties about going concern status.

- Non-compliance with Ind AS & SEBI Listing Regulations; financials contain misstatements/omissions.