Please find enclosed herewith outcome of board meeting held today i.e. on 30-05-2026 for adoption of audited financial results with others agenda.
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Harish Textile Engineers Ltd reported strong profitability for FY 2025-26 with Net Profit of ₹553.80 Lakhs, a massive jump from ₹23.55 Lakhs in the previous year (2,252% growth), driven by improved performance in Non-Woven and PSF segments. Revenue grew modestly by 4.9% to ₹13,849.17 Lakhs. However, the auditor issued a QUALIFIED OPINION due to NCD defaults (INR 211.51 Lakhs principal + interest), MSME vendor interest computation issues (Rs 64.48 Lakhs), and unresolved input tax credit matters. The auditor also raised material uncertainty about GOING CONCERN as the company has negative working capital of ₹1,649.25 Lakhs (Current Assets ₹4,781.36 Lakhs vs Current Liabilities ₹6,430.61 Lakhs). The company received an Event of Default notice from Axis Trustee Services Limited in November 2025 regarding 7% NCDs. Multiple legal matters are pending including NCLT disputes over business transfers and MSME creditor claims. A preferential issue of equity shares at Rs 64 per share is also pending regulatory approvals.
The company shows improved profitability but faces significant financial stress with NCD defaults, negative working capital, and auditor concerns about its ability to continue as a going concern. Shareholders should monitor the resolution of debenture defaults and any impact on operations.