IITL Projects Ltd — Results, 23-05-2025: Result

IITL Projects Limited has announced a board meeting outcome approving the financial results for the quarter and half-year ended March 31, 2025, and re-appointed M/s Sheetal Patankar & Co. as Internal Auditor for FY 2025-26. The company reported a net profit of ₹31.47 Cr for the year, reversing prior impairments due to the sale of its investment in Capital Infra Projects Private Limited and exiting the joint venture. However, accumulated losses exceed paid-up capital, and liabilities surpass assets, leading the company to cease being a going concern; financials are prepared on a realization basis. The revised terms for redeemable preference shares include an extension to March 2026 and a reduced redemption amount. The Statutory Auditors issued an unmodified opinion on the financials.