we wish to inform you that the Board of Directors at their Meeting held on Friday, 29th May 2026 has inter alia considered and approved the following: 1.Considered and approved Audited ....
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E-Land Apparel Ltd reported a net loss of ₹4,730.98 Lakhs for FY26 versus a profit of ₹1,366.39 Lakhs in FY25 — a dramatic turnaround. Revenue declined 13% to ₹2,610.0 Lakhs from ₹3,003.9 Lakhs in the prior year. The company has accumulated losses that exceed its paid-up capital and other equity, which stood at negative ₹58,028.01 Lakhs. The statutory auditor (Singhi & Co.) issued an unmodified opinion, but the board explicitly noted that the holding company (E-Land Asia Holdings Pte. Ltd.) has confirmed financial support for going concern. An exceptional charge of ₹47.51 Lakhs was recorded due to new labour codes. A new internal auditor, M/s. MK Bagrecha & Associates, was appointed for FY27. The company has an outstanding USD 45 million advance from its holding company and has failed to fulfill supply obligations of USD 2.39 million, currently under renegotiation.
Shareholders should note the company is technically insolvent with negative equity of ₹53,229 Lakhs. The stock is entirely dependent on holding company support — a withdrawal of that support would be catastrophic. The FY26 loss and revenue decline reflect deteriorating fundamentals.