We wish to inform you that the Board of Directors of the Company at its meeting held today, 30th May, 2025 has, inter-alia, considered and approved the following :- The Audited Financial ....
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KG Denim's board, at its May 30, 2025 meeting, approved audited financial results for Q4 and FY ended March 31, 2025. Statutory auditors issued an unmodified opinion but included a significant Emphasis of Matter. Standalone revenue collapsed to Rs 265 crore from Rs 490 crore in FY24, a sharp ~46% decline, while pre-tax loss widened to Rs 67.2 crore from Rs 37.7 crore. Net worth fell dramatically to just Rs 4 crore (from Rs 35 crore) as long-term borrowings jumped to Rs 155 crore. On a consolidated basis, total equity turned negative at Rs (12) crore. The auditor highlighted Rs 106 crore in outstanding trade payables (Rs 22.5 crore overdue, some under legal notice), and a loan restructuring with consortium banks led by Indian Bank, where South Indian Bank (7% share) dissented and one NBFC (Rs 6.25 crore) has not joined. The company sold 11.58 acres of vacant land for Rs 5 crore as part of the restructuring, with repayments scheduled to begin from March 2026.
This is a deeply distressed filing — the auditor explicitly noted 'cessation of core operations,' steep revenue decline, mounting losses, and a near-wiped-out net worth, with the company's survival hinging on successful loan restructuring. Equity shareholders face high dilution and going-concern risk; expect stock volatility and negative market reaction.