With reference to the above captioned subject and pursuant to the provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ('Listing Regulation'), we hereby ....
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Harish Textile Engineers' board approved its unaudited Q2 FY26 results showing revenue of Rs 3,502.32 lakhs (vs Rs 3,529.89 in Q2 FY25) and a net profit of Rs 102.03 lakhs, a turnaround from a loss of Rs 57.16 lakhs a year ago. For H1 FY26, the company posted a net profit of Rs 218.21 lakhs versus a loss of Rs 88.99 lakhs in H1 FY25, with revenue of Rs 6,678.56 lakhs. The statutory auditor issued a qualified review report flagging an NCD redemption default of Rs 64.72 lakhs (plus interest), inability to verify Rs 41 lakhs of MSME interest provisions, and a material uncertainty on going concern given negative working capital of Rs 1,984.21 lakhs. The board also accepted the resignation of Independent Director Mr. Mahesh Ratilal Sapariya, authorized the sale of the Delhi office, and noted the pending slump-sale transfer of its textile processing business to a promoter-related entity, Nfinia Industries.
The qualified audit opinion, going concern flag, and NCD default signal serious liquidity stress and credit risk for shareholders. The related-party slump sale of the textile machinery business to a promoter-controlled firm and a string of legal notices and execution warrants add governance and asset-stripping concerns that are likely to weigh negatively on the stock.