With reference to the above captioned subject and pursuant to the provisions of Regulation 30 and Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, ....
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Harish Textile Engineers reported Q3 FY26 revenue of ₹3,531.70 lakhs (up ~6% YoY) and 9M FY26 revenue of ₹10,213.30 lakhs (up ~2.8% YoY). Net profit swung to a profit of ₹150.59 lakhs in Q3 (from a loss of ₹39.35 lakhs last year) and ₹370.54 lakhs for 9M FY26 (vs a loss of ₹128.35 lakhs). However, the statutory auditor issued a qualified opinion due to two issues: (1) the company defaulted on redemption of 7% NCDs (Old Series-III) worth ₹64.72 lakhs principal plus interest, receiving an Event of Default notice from Axis Trustee Services with aggregate dues of ₹211.51 lakhs called upon, and (2) inability to validate ₹52.82 lakhs MSME interest provision. The auditor also flagged a material uncertainty on going concern, noting negative net working capital of ₹1,744.69 lakhs (current liabilities ₹6,377.13 lakhs vs current assets ₹4,632.44 lakhs) and a liquidity crunch. The board approved a preferential issue of up to 21.23 lakh equity shares at ₹64 each, aggregating up to ₹13.59 crore, to promoter and non-promoter investors.
Despite a return to profitability, serious red flags remain for shareholders — the company is in NCD default, faces liquidity stress with deeply negative working capital, and its ability to continue as a going concern is uncertain. The qualified auditor opinion, statutory dues irregularities, and pending legal disputes (including a ₹117 lakh NCLT claim) make this a high-risk stock despite the improved headline numbers.