Audited Financial Results as on 31.03.2025
Awaiting price reaction for this filing.
The Board of Girnar Spintex Industries Limited (formerly Amit Spinning Industries Limited) approved its audited standalone financial results for Q4 and FY ended March 31, 2025. Revenue for the year stood at Rs. 10,308.85 lakhs, up from Rs. 9,570.46 lakhs in the previous year (~7.7% growth). Profit after tax jumped sharply to Rs. 218.61 lakhs from just Rs. 1.18 lakhs last year. The company acquired a fabric manufacturing unit on a slump sale basis effective March 1, 2025, which contributed about Rs. 687 lakhs of revenue in its first month. Statutory auditors M/s Nenawati & Associates issued an unmodified (clean) opinion on the results. Outstanding qualified borrowings rose from Rs. 19.03 Cr to Rs. 31.12 Cr during the year, though the company reported no defaults on loans or debt securities.
Clean audit opinion and a sharp rebound in profits are positive signals for shareholders, though the profit jump is off a very small base. Rising borrowings and the recent acquisition of a fabric unit signal expansion but also higher leverage to monitor.