Aki India Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
AKI · price
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AKI India Limited, a Kanpur-based leather and leather goods company, submitted its Q1 FY26 results along with a Reg. 32 statement on use of funds. Standalone net sales fell sharply to ₹1,136.46 lakhs from ₹1,870.98 lakhs in Q1 FY25, a drop of about 39%. Standalone profit after tax declined to ₹20.77 lakhs (₹0.02 EPS) from ₹35.59 lakhs (₹0.04 EPS) a year earlier. On a consolidated basis, including subsidiary AKI UK Limited and associate AKI Castil Shoes LLP, net sales were ₹1,766.34 lakhs versus ₹2,077.47 lakhs, with PAT at ₹23.04 lakhs versus ₹43.42 lakhs. The statutory auditor (R K Parmarthi & Co.) issued an unqualified limited review on both sets of results. The Reg. 32 disclosure confirms ₹20.59 crore raised via a preferential issue (warrant conversion) on 9 June 2025 has been fully utilised for the stated objects (₹15.65 cr for working capital and ₹4.94 cr for general corporate purposes), with no deviation, no audit committee comments, and no auditor qualifications.
Sharply weaker top line and profits on a year-on-year basis are a red flag, though the small absolute profit base (₹20-23 lakhs) means results are easily distorted. Clean utilisation of preferential issue funds and an unqualified auditor's report are positive. Short-term shareholder sentiment may be cautious given the steep revenue decline, but the deviation statement itself is neutral.