Benara Bearings & Pistons News

Benara Bearings Reports ₹2815.50 Lakh Loss for FY25

Benara Bearings & Pistons Limited reported consolidated net loss of ₹2815.50 lakhs for FY25 with auditors issuing disclaimer of opinion citing multiple concerns including inventory valuation issues.

Benara Bearings Reports ₹2,748 Crore Loss, Faces Auditor Disclaimer Over Financial Irregularities

Benara Bearings and Pistons Limited reported a net loss of ₹2,748.22 crore for the year ended March 31, 2025, compared to a loss of ₹312.73 crore in the previous year. The company's auditors issued a disclaimer of opinion citing multiple concerns including inability to verify physical inventory worth ₹1,849.75 crore, questionable recoverability of non-current assets worth ₹979.02 crore, and short-term borrowings of ₹5,167.61 crore classified as non-performing assets. The company is negotiating one-time settlements with lenders including a ₹3,000 crore settlement with Axis Bank and Bandhan Bank against outstanding dues of ₹5,138 crore. Revenue declined to ₹1,091.52 crore from ₹1,505.19 crore in the previous year. The company faces income tax demands of ₹5,150.47 crore and GST demands of ₹911.07 crore. Net worth has turned negative at ₹836.81 crore. The board approved leadership changes including the resignation of Company Secretary Akash Ashokkumar Bhandari and appointment of Dileep Kumar as CFO. The company also announced a proposed change in IPO objectives through postal ballot.

Benara Bearings Reports ₹2,187 Lakh Loss, Appoints New CFO Amid Financial Restructuring

Benara Bearings and Pistons Limited reported a net loss of ₹2,186.63 lakhs for the half-year ended September 30, 2024, compared to ₹154.87 lakhs loss in the previous period. Revenue from operations declined to ₹502.10 lakhs from ₹601.56 lakhs. The company appointed Dileep Kumar as Chief Financial Officer while Company Secretary Akash Ashokkumar Bhandari resigned. The board approved a change in IPO objectives through postal ballot. The company is negotiating one-time settlements with lenders for short-term borrowings of ₹5,051.85 lakhs, as loan accounts have been classified as NPAs due to payment defaults. Auditors expressed concerns about inventory valuation of ₹1,977.04 lakhs, recoverability of non-current assets worth ₹1,401.05 lakhs, and the company's ability to continue as a going concern given negative net worth and cash losses of ₹1,163.01 lakhs.

Benara Bearings and Pistons Limited Company Secretary Resigns for Career Opportunity

Mr. Akash Ashokkumar Bhandari has resigned from his position as Company Secretary and Compliance Officer of Benara Bearings and Pistons Limited. The board noted his resignation in a meeting held on July 28, 2025, with the resignation effective from the same date. Bhandari submitted his resignation to pursue an alternate career opportunity outside the organization. The company stated there are no material reasons for his resignation other than the career opportunity mentioned.