Eastern Silk Industries Limited has informed the Exchange regarding 'Updates'.
EASTSILK · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Eastern Silk Industries Limited reported a net loss of Rs 1,342.24 lakhs for FY2026, a dramatic reversal from a profit of Rs 35.42 lakhs in FY2025. Revenue from operations stood at Rs 2,370.87 lakhs. The company successfully completed its Corporate Insolvency Resolution Process (CIRP) — a new equity share capital of Rs 1 crore was issued to the Successful Resolution Applicant, extinguishing the earlier share capital. The resolution plan obligations have been fully fulfilled. However, significant one-time charges impacted results: inventory worth Rs 13.97 Crores (from Falta Unit, pre-CIRP stock) was written down, Rs 33.79 crore of brought-forward tax losses expired causing a Deferred Tax Asset reversal, and Rs 20.60 lakhs in labour code implementation costs were charged as exceptional items. The auditors issued an unmodified opinion with no going concern qualification despite the heavy losses.
The company swung from profit to a substantial loss due to one-time write-downs and tax asset reversals. The completion of the resolution plan removes insolvency risk, but the company faces a challenging path to revive operations and return to profitability.