SKIL Infrastructure Reports Q3 Financials Amid Ongoing Insolvency

Net Profit: Rs 174.44 Lakhs | Total Revenue: Rs 192.79 Lakhs

Reader Takeaway: Ongoing insolvency limits corporate visibility; auditor flags 'going concern' risk and unverified financial records.

What just happened

SKIL Infrastructure Limited, currently under the Corporate Insolvency Resolution Process (CIRP), has disclosed its financial results for the quarter ended December 31, 2025. The company reported a net profit of Rs 174.44 lakhs for the period on a total revenue of Rs 192.79 lakhs. For the nine-month period, the company recorded a total revenue of Rs 4,748.93 lakhs with a net profit of Rs 4,647.71 lakhs.

Why this matters

The company is under the control of a Resolution Professional, Mr. Purusottam Behera, following the NCLT Mumbai bench's admission of an insolvency application in February 2024. The current financial disclosures are being made within the constraints of this legal process, which seeks to resolve the firm's liabilities.

Auditor Concerns

The statutory auditors have issued a qualified report highlighting critical operational and accounting issues:

• Going Concern: Significant uncertainty remains regarding the company's ability to continue operations due to the ongoing CIRP.
• Audit Scope: Auditors noted a lack of access to complete bank statements and direct confirmations for specific accounts.
• Discrepancies: There is a mismatch between claims admitted by the Resolution Professional and liabilities recorded in the books. Additionally, intercompany loan balances show an unreconciled difference of Rs 16.19 lakhs.

Operational Context

The group previously deconsolidated its subsidiary, SKIL Shipyard Holdings, citing a loss of control, though auditors noted insufficient documentation for this move. The company has also reinstated its investment in Rosoboronservices (India) at a nominal value of Re 1 after liquidation plans were rejected by the NCLAT.

What to track next

Shareholders should monitor updates regarding the Committee of Creditors' (CoC) approval of a resolution plan. Any outcome from the NCLT process remains the definitive factor for the company's future corporate existence.