JBF Industries Limited has announced its unaudited standalone financial results for the quarter ended December 31, 2025. The meeting of the Resolution Professional to approve these results commenced at 13:40 hrs and concluded at 14:10 hrs on January 30, 2026. The financial statements were prepared in accordance with Indian Accounting Standard 34, Interim Financial Reporting. The independent auditor's review report highlighted several significant issues. Notably, a provision of interest at Nil% per annum on a monthly compounding basis for term loans, cash credit limits, and cumulative redeemable preference shares (CRPS) totaling ₹2,47,379 lakhs was made, resulting in a lower finance cost provision by ₹11,605 lakhs for the quarter. This deviates from the documented rates as per Indian Accounting Standards. Furthermore, the report mentions an application filed with the National Company Law Tribunal (NCLT) by an operational creditor of JBF RAK LLC, a subsidiary, claiming ₹12,848 lakhs. No provision has been made for this claim due to uncertainties. The auditor also noted a significant and material impact on the company's going concern status and future operations, stating that the company ceases to continue as a going concern. Other points raised include a demand notice from Tamilnad Mercantile Bank Ltd (TMBL) for ₹32.94 Crores plus future interest, ongoing legal proceedings related to this matter, and the company's denial of a corporate guarantee invocation for JBF Petrochemicals Ltd. The company has not prepared consolidated financial statements due to reasons mentioned, and there is a pending transfer of shares in a subsidiary. Additionally, the company has not appointed a Chief Executive Officer, Chief Financial Officer, Company Secretary, or Compliance Officer. The company also has not appointed an Internal Auditor. The auditor's report also indicated that remuneration paid to Directors exceeded the limits laid down under Section 197 of the Companies Act, 2013, although no remuneration was paid during the quarter.
