Abhishek Corporation Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
Awaiting price reaction for this filing.
Mahaalaxmi Texpro Limited (formerly Abhishek Corporation Limited) reported a net loss of Rs. 135.54 lakhs for FY2026, compared to a net loss of Rs. 2,528.52 lakhs in the prior year. Total revenue dropped sharply to Rs. 410.98 lakhs from Rs. 793.70 lakhs in FY2025 — a revenue decline of approximately 48%. The company incurred cash losses of Rs. 84.31 lakhs (vs Rs. 276.67 lakhs prior year). Exceptional items of Rs. 2,158.70 lakhs were absent this year, explaining the smaller loss versus the prior year which had large exceptional write-offs. The company's balance sheet is severely distressed with negative equity of Rs. 172.41 lakhs (up from negative Rs. 36.87 lakhs previously) and negative retained earnings of Rs. 509.37 lakhs. The auditors issued an unmodified opinion with an emphasis of matter noting the company has disputed statutory dues of Rs. 147.13 lakhs pending before authorities.
The company continues to face serious financial distress with declining revenue, persistent losses, and negative net worth. The unmodified audit opinion provides no comfort on the company's ability to continue as a going concern, and shareholders should be cautious given the deteriorating balance sheet.