Outcome of the board meeting held on Sunday 17th May, 2026 to consider and approve the audited financials for the quarter and year ended on 31st March, 2026
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Meyer Apparel Limited reported audited results for FY2026 with revenue of Rs.8.70 lakhs, down sharply from Rs.1,202.25 lakhs in FY2025, representing over 99% decline. The company posted a net loss of Rs.78.80 lakhs for the year, compared to a loss of Rs.106.88 lakhs in the prior year, showing a 26% improvement. However, accumulated losses stand at Rs.6,296.12 lakhs, resulting in negative net worth of Rs.3,356.45 lakhs. Operating cash flow was significantly negative at Rs.64.87 lakhs. The auditor's report highlights material uncertainty about the company's ability to continue as a going concern due to losses and negative net worth, though issued with an unmodified opinion. The board also approved increasing borrowing limits to Rs.2.75 crore subject to shareholder approval.
The company remains in financial distress with negative net worth and heavy operating cash outflows. While losses narrowed year-on-year, the dramatic revenue collapse raises serious concerns about business viability. The auditors' going concern warning signals high risk for shareholders and creditors despite the clean audit opinion.