Konark Synthetic Ltd — Updates, 14-08-2025: Company Update

Konark Synthetic's board has approved the financial results for the quarter ended June 30, 2025. Mr. Shonit Prakashchand Dalmia was re-appointed as Managing Director, effective August 14, 2025, pending shareholder approval. The company did not prepare consolidated results because one entity ceased being an associate, and a subsidiary is undergoing insolvency with no financial data available. Auditors highlighted significant long-outstanding receivables of ₹7.11 Cr from a company in insolvency and ₹0.93 Cr from another party, both with uncertain recovery. A corporate guarantee of ₹27.06 Cr for the insolvent subsidiary, exceeding the company's net worth, poses a material risk.