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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Awaiting price reaction for this filing.
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.