Board approves Q1 FY27 results, re-appoints MD Devender Agarwal

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Price reaction

Awaiting price reaction for this filing.

AI summary

Board approved Q1 FY27 results. Revenue fell to Rs 9.90 lakh (vs Rs 29.85 lakh YoY). Continuing ops profit Rs 3.09 lakh vs Rs 14.05 lakh. Net loss Rs 23.70 lakh vs Rs 220.92 lakh. Discontinued spinning division posted Rs 26.79 lakh loss. Accumulated losses at Rs 3,772.40 lakh and current liabilities exceed assets. Auditor issued qualified review over unpaid TDS interest of Rs 21.16 lakh. MD Devender Kumar Agarwal re-appointed. FY26 Directors Report approved.

Likely market impact

Weak Q1 results, high accumulated losses, and qualified auditor review raise concerns; MD re-appointment signals continuity.