Un-audited Financial Results for the quarter ended 30th June 2025 alongwith Limited Review Report submitted by Khandelwal Jain & Co. Statutory Auditor of the Company. The same is enclosed herewith.
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Meyer Apparel reported Q1 FY26 revenue from operations of Rs. 8.02 lakhs, down sharply from Rs. 30.62 lakhs in the same quarter last year, a fall of nearly 74%. The company posted a net loss of Rs. 18.72 lakhs for the quarter, slightly narrower than the Rs. 27.20 lakh loss a year ago. Total expenses stood at Rs. 26.90 lakhs against total income of Rs. 8.05 lakhs, underscoring persistent cost pressures. The company's accumulated losses stand at Rs. 6,236.79 lakhs, wiping out its net worth which is now negative at Rs. 3,297.12 lakhs, and current liabilities exceed current assets by Rs. 3,294.92 lakhs. The statutory auditor, Khandelwal Jain & Co., has flagged a 'Material Uncertainty Related to Going Concern' in its limited review report, noting these factors raise doubts about the company's ability to continue as a going concern, though management remains confident of generating cash flows from operations.
This is a significant red flag for shareholders — the auditor has formally questioned the company's ability to continue as a going concern, and the deeply negative net worth combined with a 74% revenue collapse signals serious financial distress. Investors should view this stock as high-risk, with the going-concern qualification potentially weighing on sentiment and share price.