Outcome of Board Meeting dated November 14, 2025.
Price
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Awaiting price reaction for this filing.
Gokak Textiles' board approved its Q2/H1 FY26 results, reporting a standalone net loss of Rs 1,457.89 lakhs for the quarter and Rs 2,603.53 lakhs for the half year, sharply wider than the Rs 1,395.41 lakh loss in H1 FY25. Revenue from operations fell about 36% year-on-year to Rs 3,110.46 lakhs in H1 FY26, dragged down by a slowdown in textiles and fire/lightning damage at its solar power plant. The company disclosed that current liabilities exceed current assets by Rs 5,067.74 lakhs, accumulated losses stand at Rs 25,473.55 lakhs, and net worth is fully eroded. The statutory auditor flagged a material uncertainty on the company's ability to continue as a going concern, though the parent Shapoorji Pallonji group injected Rs 600 lakhs as perpetual loans and continues to back the company. The firm also signed an agreement to sell its Knitwear Manufacturing Plant at Bagalkot for Rs 1,950 lakhs, with Rs 950 lakhs advance already received.
This is a deeply negative filing for shareholders — losses are widening, revenue is shrinking sharply, net worth is wiped out, and the auditor has formally highlighted going-concern doubt. The stock is likely to remain under pressure; near-term survival depends on continued financial support from the Shapoorji Pallonji group and the planned asset sale.