Integrated Filing Financials for quarter ended June 30 2025
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GTN Textiles reported Q1 FY26 results showing a small loss of Rs 13 lakhs from its new continuing operations (cotton yarn trading), which commenced in June 2025 after manufacturing was discontinued in Q2 FY23. Revenue from the new trading business was Rs 129 lakhs with expenses of Rs 142 lakhs. Discontinued operations contributed a profit of Rs 168 lakhs after tax, mainly driven by Rs 248 lakhs profit on sale of property, plant and equipment. The company has received full Rs 87.14 Crores for sale of 25.76 acres of land (sale deed for 0.68 acres still pending). Other equity remains deeply negative at Rs (4,227) lakhs standalone and Rs (6,191) lakhs consolidated, though the company states all bank dues and major liabilities have been repaid. The statutory auditor (L.U. Krishnan & Co.) issued an unqualified limited review report with no qualifications.
The shift from yarn manufacturing to cotton yarn trading is in early stages and not yet profitable, but the land sale proceeds have strengthened the balance sheet by clearing bank dues. Shareholders should watch for revenue ramp-up in the trading business in coming quarters, while the negative net worth remains a structural concern despite improved liquidity.