a. Unaudited Financial Results (Standalone and Consolidated) of the Company for the quarter and nine months ended December 31, 2025. In this connection we are enclosing herewith a copy ....
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The board, which met on February 13, 2026, approved the unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025. Separately, CFO Mrs. Ramaprabha S resigned effective the same day citing personal reasons. The auditor's limited review report flagged three emphasis-of-matter issues: (1) debt restructuring under the SLBC/RBI Natural Calamities package has not been accepted by South Indian Bank (7% exposure) and one NBFC with dues of Rs. 6.50 crore, with the matter pending before the RBI Ombudsman; (2) outstanding trade payables of Rs. 7,884.41 lakhs, with Rs. 913.54 lakhs under recovery notices and some creditors approaching the NCLT; and (3) the company's net worth has turned negative at Rs. 147.34 lakhs on a standalone basis and Rs. 1,401.43 lakhs on a consolidated basis as of December 31, 2025. The consolidated results include the wholly-owned US subsidiary KG Denim (USA) Inc. and subsidiary Trigger Apparels Limited, both with negligible revenues.
This is a high-risk filing. Negative net worth, dissenting lenders, and a pile-up of overdue trade payables point to serious financial distress, while the abrupt CFO exit adds governance uncertainty. Shareholders should expect negative sentiment and potentially further stock-price pressure; near-term recovery depends on successful resolution of the debt restructuring and creditor settlements.