Submission of Revised Audited Financial Results for the Quarter and Year ended 31.03.2026.
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Garware Synthetics submitted revised audited financial results for FY26 after correcting a typographical error in the consolidated Cash Flow Statement — the non-current borrowings figure under financing activities was wrongly shown as (5.93) instead of 9.51. The company clarified that apart from this typo, all reported figures remain unchanged and the integrated filing had the correct number. Revenue from operations declined to ₹1,033.92 lakhs in FY26 from ₹1,072.99 lakhs in FY25, a fall of about 3.6%. Profit after tax jumped sharply to ₹36.22 lakhs from just ₹1.30 lakhs last year, though FY25 had benefited from a one-time exceptional item of ₹27.74 lakhs. The balance sheet shows negative other equity of ₹(734.17) lakhs, meaning the company's net worth is eroded, and it posted negative operating cash flow of ₹(11.95) lakhs for the year.
The revision itself is administrative and not material to the stock. While the sharp jump in annual profit looks positive, the negative net worth and cash burn from operations are serious red flags that investors should watch closely, as they raise questions about the company's long-term financial health.