Eurotex Industries and Exports Limited has submitted to the Exchange, the financial results for the period ended 31st March, 2026
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Eurotex Industries and Exports Limited has announced its audited financial results for Q4 and FY ended March 31, 2026. The auditor's report contains two significant red flags. First, a Material Uncertainty Related to Going Concern was raised — the company has incurred cash losses in the current and prior years, has eroded its entire net worth, and its manufacturing plants at Kolhapur were closed in March 2019 with formal closure announced in March 2022. Second, an Emphasis of Matter was raised regarding an electricity duty liability of Rs. 305.54 lakhs for earlier years where the Hon'ble Supreme Court ruled against the company on March 25, 2026; the company plans to file a review petition. The auditor gave an unqualified opinion on the financial statements themselves but did not modify the report for these matters.
This is a high-risk announcement. The company's operations have essentially ceased, net worth is fully eroded, and the auditor has raised going concern doubts. The Supreme Court ruling on electricity duty adds a contingent liability. Shareholders face extreme risk as the company is survival-dependent on land development plans at Kolhapur.