Eurotex Industries and Exports Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
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Eurotex Industries has informed exchanges that Regulation 32 (Statement of Deviation) does not apply because no Right Issue or Preferential Issue was made during the year ending 31st March 2026. A separate Net Worth Certificate from auditors Shankarlal Jain & Associates confirms the company's paid-up capital remained flat at Rs. 874.02 lakhs across FY2023, FY2024, and FY2025. However, net worth has turned deeply negative, worsening from Rs. (2,026.77) lakhs in FY2023 to Rs. (2,716.45) lakhs in FY2024 and further to Rs. (2,946.73) lakhs by FY2025. Reserves and surplus are deeply negative at Rs. (3,820.75) lakhs, indicating accumulated losses are eroding shareholder equity.
The company has negative net worth and shrinking equity base, which signals serious financial distress. This is a significant red flag for existing shareholders as the company may be technically insolvent despite no change in capital structure.