Enclosed herewith the copy of outcome of board meeting for Audited Financial Results For The Quarter And Year Ended 31St March, 2026 Of The Company for your refrence.
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Katare Spinning Mills Ltd reported a net loss of Rs 2.16 crore for FY2026, compared to a loss of Rs 1.73 crore in the previous year. Revenue from operations declined significantly to Rs 2.79 crore from Rs 5.12 crore in FY2025. The company's spinning division has remained substantially non-operational for a prolonged period. The auditor issued a Qualified Opinion citing failure to conduct impairment testing under Ind AS 36, non-compliance with Ind AS 16 for depreciation on idle machinery, and unresolved Deferred Tax Liability of Rs 78.87 lakh. An Adverse Opinion was given on internal financial controls. The company flagged a material uncertainty related to going concern due to accumulated losses and non-operational manufacturing activities. Net worth stands at a very low Rs 56.27 lakh against total assets of Rs 118.74 crore.
The stock faces significant risk due to mounting losses, ongoing operational shutdown, qualified audit opinion with going concern uncertainty, and weak financial controls. Shareholders should be cautious as the company struggles with asset impairment issues and potential devaluation of fixed assets.