Disclosure of Standalone and Consolidated Audited Financial Results of the Company for the quarter/year ended 31.03.2025
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Kandagiri Spinning Mills reported a standalone net loss of Rs. 79.28 lakhs for FY25, narrower than the Rs. 176.74 lakh loss in FY24. The Q4 standalone profit of Rs. 50.93 lakhs was entirely due to a one-time Rs. 100 lakh interest waiver by the promoter on an unsecured loan, not from operations. Revenue from operations grew about 30% to Rs. 195.73 lakhs, but total income fell to Rs. 203.10 lakhs from Rs. 297.51 lakhs due to sharply lower other income. The company's net worth is fully eroded at negative Rs. 725.36 lakhs (standalone), with borrowings of Rs. 1,797.68 lakhs sitting against negative equity, and current liabilities exceed current assets. Auditors issued a qualified opinion for the sixth consecutive year, flagging material uncertainty about the company's ability to continue as a going concern. The manufacturing business has been replaced by a small yarn trading operation.
Serious financial distress — fully eroded net worth, persistent losses, and a qualified audit for the sixth straight year leave the company's survival dependent on ongoing promoter funding. Shareholders face material going-concern risk and limited operational visibility going forward.