Board Meeting outcome for the Quarter ended 30.06.2025
Awaiting price reaction for this filing.
The board approved unaudited results for Q1 FY26 (quarter ended June 30, 2025), reporting total income of ₹1,256.7 lakhs and a profit of ₹530.58 lakhs (EPS ₹10.81) versus a loss of ₹117.86 lakhs in Q1 FY25. The turnaround is largely driven by a one-time gain of about ₹411 lakhs from sale of non-current assets of the discontinued spinning division, not from core operating activity. Independent Director Sushma Gupta resigned citing personal reasons effective August 13, 2025, and Rajani Elaprolu (finance background, 30+ years experience) was appointed as Additional Non-Executive Independent Director in her place. M/s. HSP & Associates LLP was appointed as secretarial auditor for five years, and the Nomination & Remuneration Committee was reconstituted. Accumulated losses stand at ₹2,596.69 lakhs, and the company continues to rely on the market value of its immovable properties for the going-concern assumption.
The headline profit masks weak core operations since the gain came from asset sales of the already-shuttered spinning division, so the stock may not get a sustained re-rating. The accumulated losses, current liabilities exceeding current assets, and dependence on property values are concerns shareholders should track closely.