Spright Agro Ltd (531205)

Following admission into the Corporate Insolvency Resolution Process (CIRP) on September 24, 2026, Interim Resolution Professional Rajesh Jasti filed the list of creditors for Spright Agro Ltd. Total admitted claims stand at approximately Rs 19.90 Cr, comprising Rs 11.24 Cr from an unsecured financial creditor (Chamunda Enterprise) and Rs 8.66 Cr from an operational creditor (Agrirevolve Trading). Chamunda Enterprise holds 100% of the voting share in the Committee of Creditors (CoC). This ongoing insolvency follows a sharp financial deterioration, with FY26 net loss of Rs 12.5 Cr and market cap down to Rs 41 Cr.

• CIRP commenced on 24/09/2026 pursuant to NCLT Ahmedabad Bench order CP(IB)/86(AHM)/2026
• Unsecured financial creditor Chamunda Enterprise has admitted claims of Rs 11,23,72,171.87 (100% CoC voting share)
• Operational creditor Agrirevolve Trading Private Limited has admitted claims of Rs 8,66,48,162.15
• Total admitted claims across all categories aggregate to Rs 19.90 Cr, with zero secured financial creditor claims received

NCLT Ahmedabad bench has initiated the Corporate Insolvency Resolution Process (CIRP) against Spright Agro Ltd vide order dated September 24, 2026. The Interim Resolution Professional (IRP), Rajesh Jasti, issued a public announcement calling upon creditors to submit claims by October 11, 2026. The estimated closure date for the insolvency resolution process is March 23, 2027 (180 days from initiation). This action follows significant financial stress, with the company posting a FY26 net loss of Rs 12.5 Cr and negative TTM operating margins of -12.1%.

• CIRP commenced following NCLT Ahmedabad bench order CP(IB)/86(AHM)/2026 dated 24/09/2026
• Public announcement published in Financial Express and Jai Hind on September 27, 2026
• Last date for submission of claims by financial and operational creditors is 11/10/2026
• Estimated CIRP completion date is set for 23/03/2027 (180 days)
• Rajesh Jasti appointed as Interim Resolution Professional (IBBI Registration: IBBI/IPA-001/IP-P02317/2020-21/13469)

The Hon'ble NCLT Ahmedabad Bench has admitted an insolvency application under Section 9 of the Insolvency and Bankruptcy Code against Spright Agro Ltd vide order CP(IB)/86(AHM)/2026 dated September 24, 2026. The application was filed by operational creditor AgriRevolve Trading Private Limited. Consequently, the powers of the Board of Directors stand suspended and have been vested in the Interim Resolution Professional (IRP) Rajesh Jasti. The company, which has a market cap of Rs 41 Cr and reported a net loss of Rs 12.5 Cr in FY26, will now be managed by the IRP as a going concern.

• NCLT Ahmedabad Bench admitted Section 9 IBC application vide order dated 24/09/2026
• Application filed by operational creditor AgriRevolve Trading Private Limited under case CP(IB)/86(AHM)/2026
• Powers of the Board of Directors suspended and transferred to Interim Resolution Professional Rajesh Jasti (Registration: IBBI/IPA-001/IP-P02317/2020-21/13469)
• Certified order copy runs 12 pages with application fees of Rs. 60 approved on 05-10-2026

Spright Agro reported zero revenue from operations for the quarter ended June 30, 2026, a total collapse from Rs 62.03 crore in the same quarter last year. The company recorded a marginal net loss of Rs 0.71 lakhs, compared to a profit of Rs 9.15 crore in Q1 FY26. A critical disclosure reveals that insolvency proceedings under Section 9 of the IBC were initiated against the company by Agrirevolve Trading Private Limited in February 2026 and remain pending before the NCLT. With business activity effectively halted and expenses dropping to near zero, the company's financial viability is under severe threat.

• Revenue from operations fell to Rs 0.00 in Q1 FY27 from Rs 62.03 crore in Q1 FY26
• Net loss for the quarter stood at Rs 0.71 lakhs against a profit of Rs 9.15 crore in the previous year
• Insolvency proceedings under Section 9 of IBC were initiated on February 21, 2026, and are currently pending
• Total expenses for the quarter were minimal at Rs 0.81 lakhs, down from Rs 49.79 crore YoY
• Other income for the period was negligible at Rs 0.10 lakhs

Spright Agro Ltd reported zero revenue from operations for the quarter ended June 30, 2026, a total collapse from the Rs 62.03 Cr reported in the same quarter of the previous year. The company recorded a marginal net loss of Rs 0.71 lakhs for the quarter. Critically, the filing discloses that insolvency proceedings under Section 9 of the IBC were initiated against the company by Agrirevolve Trading Private Limited in February 2026 and remain pending. This follows a disastrous FY26 where the company swung from a Rs 20 Cr profit to a Rs 12 Cr loss.

• Revenue from operations fell to Rs 0.00 in Q1 FY27 from Rs 62.03 Cr in Q1 FY26
• Net loss for the quarter stood at Rs 0.71 lakhs compared to a profit of Rs 9.15 Cr in the year-ago period
• Insolvency proceedings under Section 9 of IBC were initiated on February 21, 2026, and are currently pending before the NCLT
• Total expenses for the quarter were reduced to just Rs 0.81 lakhs, indicating a near-total halt in business activity
• Paid-up equity share capital remains at Rs 107.15 Cr with a face value of Rs 1 per share