Reply in respect of Discrepancies in Financial Statement
Price
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On the reaction day the stock moved 3.6 pts more than Nifty Microcap 250 and 4.2 pts more than its Other Textile Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Avax Apparels and Ornaments Ltd submitted a clarification to BSE after the exchange flagged discrepancies in its half-yearly financial results filed under SEBI LODR Regulation 33. The company acknowledged the error, stated it was an oversight with no intent to violate rules, and uploaded a corrected Limited Review Report along with rectified financial PDFs. The reviewed results for H1 FY26 (ended Sept 30, 2025) show revenue from operations at Rs. 2,020.37 lakhs, up 34.6% from Rs. 1,500.93 lakhs in H1 FY25. Profit after tax rose to Rs. 119.64 lakhs (vs Rs. 90.62 lakhs), with basic EPS of Rs. 11.51. Total assets stood at Rs. 1,570.66 lakhs, with the business being almost entirely the knitted clothes segment. The auditor (NKSC & Co.) issued an unmodified limited review conclusion on the rectified results.
The correction is procedural and the company has voluntarily rectified the filing without admitting any regulatory violation, which limits near-term overhang on the stock. However, repeated filing errors under Reg. 33 could attract closer scrutiny from BSE/SEBI and may dent investor confidence in the company's disclosure practices.