Audited Financial Results 31.03.2026
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Kandagiri Spinning Mills Ltd reported audited standalone financial results for FY2026. The company posted a net loss of Rs. 325.29 lakhs, significantly higher than the loss of Rs. 79.28 lakhs in FY2025. Revenue from operations declined to Rs. 181.59 lakhs from Rs. 195.73 lakhs in the previous year. The auditor issued a Qualified Opinion citing that the company's net worth has been completely eroded (negative Rs. 1,050.67 lakhs), current liabilities exceed current assets, and there is material uncertainty about the company's ability to continue as a going concern. This is the 7th consecutive time this going concern qualification has appeared. The company continues to operate in yarn trading business, with promoters assuring additional fund infusion.
The negative net worth, mounting losses, and auditor's qualified opinion on going concern signal severe financial distress. Shareholders face significant risk as the company's survival is in question despite promoter support assurances.