Laxmi Cotspin Limited has submitted to the Exchange, the financial results for the period ended December 31, 2025.
LAXMICOT · price
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Laxmi Cotspin reported a sharp deterioration in Q3 FY26 (quarter ended Dec 31, 2025) with revenue from operations falling to ₹2,456.97 lakhs from ₹4,114.54 lakhs a year ago, a drop of roughly 40%. The company swung to a net loss of ₹147.00 lakhs in Q3 from a profit of ₹27.20 lakhs in Q3 FY25, and the nine-month loss widened to ₹698.68 lakhs versus a small loss of ₹2.87 lakhs last year. The statutory auditor (DMKH & Co.) issued a qualified conclusion on the results, flagging six issues including inadequate inventory records, loans of ₹5.51 crores to a subsidiary without board approval, a significant advance to a financially stressed creditor with no impairment, depreciation not in line with Ind AS 16, and a land sale to a subsidiary where the sale deed is not yet registered. The Board also revised Executive Directors' remuneration to nil till March 31, 2026, accepted the resignation of a Non-Executive Woman Director citing health reasons, and is exploring closure of its wholly owned subsidiary Laxmi Style & Design if no viable business is found.
This is a clearly negative set of results: revenue collapse, deeper losses, and a qualified auditor report citing weak internal controls and questionable related-party transactions raise serious governance concerns. Shareholders should expect heightened scrutiny and potential negative stock reaction, while the nil remuneration for Executive Directors is an unusual signal that may be aimed at conserving cash.