Financial Results for the quarter ended 31.03.2026.
Awaiting price reaction for this filing.
Suryavanshi Spinning Mills reported a net profit of ₹125.07 lakhs for FY26 versus a loss of ₹167.89 lakhs in FY25, primarily driven by an exceptional gain of ₹411.85 lakhs from sale of discontinued spinning division assets. Total income stood at ₹700 lakhs (vs ₹282.97 lakhs prior year), though this includes the discontinued division. The company's balance sheet remains severely distressed with negative equity of ₹865.49 lakhs and current liabilities exceeding current assets by ₹1,459.39 lakhs. The auditor issued a Qualified Opinion citing unpaid TDS interest (₹1.38 lakhs) and long-pending payables of ₹197.01 lakhs with expired limitation periods. The auditor also noted that these qualifications are repetitive for four years. The company appointed new internal auditors M/S. LANS & Co. for FY27.
The company returned to profitability but faces serious going concern risks as liabilities far exceed assets. The repetitive qualified opinion and negative net worth signal significant audit and financial health concerns for shareholders.