Submission of the outcome of the Board meeting held on 17th January, 2026
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Awaiting price reaction for this filing.
Meyer Apparel's Board approved unaudited financial results for Q3 FY26 (quarter ended Dec 31, 2025) and 9M FY26. Revenue from operations was just Rs. 0.07 lakhs in Q3, sharply lower than Rs. 26.26 lakhs in the same quarter last year. The company posted a net loss of Rs. 16.68 lakhs for the quarter (vs Rs. 26.63 lakhs loss in Q3 FY25) and Rs. 54.58 lakhs for the nine-month period. Accumulated losses stand at Rs. 6,272.19 lakhs, eroding the entire net worth to negative Rs. 3,332.52 lakhs. The statutory auditor flagged a 'Material Uncertainty Related to Going Concern' in the limited review report, though the report itself is not qualified. The Board also appointed Ms. Anjali Tiwari as the new Company Secretary and Compliance Officer effective January 17, 2026.
Negative — the company continues to post losses with near-zero revenues and deeply negative net worth, and the auditor has formally flagged going concern uncertainty. This is a serious red flag for shareholders, though the report itself is not qualified and management expects to generate cash flows to continue operations.