Please find enclosed herewith Audited Financial Results for quarter and year ended on 31st March, 2026
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Harish Textile Engineers reported FY2026 revenue of Rs 13,849 lakhs, up 4.9% from Rs 13,203 lakhs in FY2025. Net profit surged to Rs 554 lakhs from just Rs 24 lakhs in the prior year, with EPS improving to Rs 16.64 from Rs 0.56. The auditors issued a Qualified Opinion due to NCD default (Rs 211.51 lakhs principal + interest), inability to validate Rs 64.48 lakhs MSME interest liability, and unreversed input tax credit. The company has negative working capital of Rs 1,649 lakhs (current liabilities Rs 6,431 lakhs vs current assets Rs 4,781 lakhs), and auditors highlighted material uncertainty about going concern. The company also faces a legal dispute over a slump sale transaction and has unpaid statutory dues.
Despite strong profit growth, the qualified audit opinion and going concern warning signal serious financial stress. The NCD default and negative working capital could lead to creditor action and impact stock price negatively. Shareholders should monitor the company's fund-raising plans and NCD resolution.