Dear Sir/Madam, Pursuant to the provisions of Regulation 30 and other applicable provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform ....
Awaiting price reaction for this filing.
Alstone Textiles reported audited financial results for Q4 and FY ended March 31, 2026. The company posted annual revenue of Rs 1,058.67 Lakhs, a significant jump from Rs 436 Lakhs in the previous year. However, Q4 showed a loss of Rs 300.40 Lakhs, while full year profit was Rs 288.25 Lakhs (down from Rs 310.61 Lakhs). The balance sheet reveals an unusual structure with massive non-current investments of Rs 37,363 Lakhs and loans/advances of Rs 1,69,500 Lakhs against borrowings of Rs 1,42,200 Lakhs. The auditors issued a qualified opinion citing non-compliance with Ind-AS, failure to provide interest on loans worth Rs 1,69,500 Lakhs pending equity conversion, and inability to verify fair value of unquoted investments. The company also lacks audit trail feature in its accounting software.
The qualified audit opinion, massive loan book with conversion pending, and Ind-AS non-compliance are serious red flags. Shareholders should be cautious as the company's core business appears to be lending/investments rather than textiles, with significant related party exposures and multiple tax demands pending.