Amit Spinning Industries Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2025.
Awaiting price reaction for this filing.
Girnar Spintex Industries Limited (recently renamed from Amit Spinning Industries) reported its unaudited Q1 FY26 results, showing revenue from operations of about ₹2,465.85 lakhs, up roughly 23% from ₹2,000.54 lakhs in the same quarter last year. However, the company slipped into a pre-tax loss of ₹34.36 lakhs in Q1 FY26, though this was an improvement from a loss of ₹75.50 lakhs in Q1 FY25. Total income stood at ₹2,574.99 lakhs against total expenses of ₹2,609.35 lakhs, with basic/diluted EPS at (₹1.25). The statutory auditor (Nenawati & Associates) issued a clean limited review report with no qualifications. The board also appointed M/s. Shrenik Nagaonkar & Associates as the new Secretarial Auditor for five years (FY26–FY30).
Top-line growth is encouraging at over 20% YoY, helped by a new fabric manufacturing unit acquired on a slump sale basis from March 2025, but the company remains loss-making at the bottom line, which is a concern for shareholders. The clean auditor opinion and no loan defaults are positives, though the persistent quarterly losses keep the stock's risk profile elevated.