Yaar, Vikas WSP ke latest financial results dekh kar toh asliyat saaf ho gayi hai. Company February 2, 2022 se Corporate Insolvency Resolution Process (CIRP) mein phansi hui hai, aur auditor ne toh seedha bol diya hai ki company ke chalne ki koi guarantee nahi hai. Yeh hai material uncertainty ka mamla!
Iska main reason yeh hai ki company lagataar loss mein ja rahi hai, aur inki current liabilities, matlab jo chukaana hai, woh total assets se bahut zyada ho gayi hain. Plus, loan aur other dues chukaane mein bhi default chal raha hai.
Sabse bada pakda gaya hai audit mein woh hai assets ki verification. Company ke fixed assets, jo paisa aana hai (receivables), aur jo paisa dena hai (payables) - in sabki sahi value pata karna mushkil ho gaya hai. Fixed Asset Register toh mila hi nahi hai, jisse assets aur depreciation verify ho sake. Aur kai balances ke liye koi document nahi hai, toh unki accuracy pata nahi chal pa rahi hai.
Quarter end December 31, 2025 ke liye revenue ke specific figures toh report mein clear nahi hain, lekin nine months ka ek figure hai jisme 'Net sales/ Revenue from' negative ₹643.28 crore hai aur 'Other income' ₹854.00 hai. Yeh company ki kharab halat ka bada signal hai.
Ab saari nazar NCLT par hai, jahan M/s Archolt Space and Foods Private Limited ka resolution plan pending hai. Yahi plan decide karega ki company ka future kya hoga. Investors ko is par najar rakhni chahiye.
Asli risk yeh hai ki agar NCLT ne resolution plan approve nahi kiya, toh company liquidation mein ja sakti hai. Agar approve hua bhi, toh existing shareholders ke liye shares ki value significantly kam ho sakti hai (dilution).