Pursuant to Regulation 30 and 42 and other applicable regulations of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
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Awaiting price reaction for this filing.
Kallam Textiles' board met on May 30, 2025 and approved audited results for FY25, reporting a net loss of Rs. 473.69 crore (Rs. 4,736.96 lakhs), wider than the Rs. 374.48 crore loss in FY24. Total revenue from operations fell about 30% year-on-year to Rs. 256.71 crore from Rs. 367.38 crore, while finance costs surged to Rs. 428.18 crore. The statutory auditor flagged a material uncertainty on going concern, citing continuous losses, loan defaults, NPA classification, SARFAESI possession notices from Indian Bank and Union Bank of India, and pending Debt Recovery Tribunal proceedings, with total bank dues of Rs. 280.49 crore as on March 31, 2025. Reserves also slipped into negative territory at Rs. (7.47) crore for Q4 FY25. The board also appointed K. Srinivasa Rao & Co as Secretarial Auditor for five years and redesignated Mr. M.V. Subba Reddy from Whole-Time Director to Director effective June 1, 2025.
This is a clearly negative filing for shareholders - widening losses, revenue decline, negative reserves, and active bank recovery actions including SARFAESI possession notices signal serious financial distress and significant going-concern risk, which could weigh heavily on the stock and risk shareholder value if restructuring fails.