Pursuant to the Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ( Listing Regulations ), the Board of Directors at their meeting held on today i.e. 30th May, 2026, have, inter alia, approved the following:1. The Audited Financial Results (Standalone and Consolidated) of the Company for the quarter and year ended 31st March, 2026 along with the Statement of Assets and Liabilities as at and Statement of Cash Flows for the year ended 31st March, 2026. A Copy of Audited Financial Results (Standalone and Consolidated) along with Auditors Report thereon are enclosed herewith.2. Re-appointment of S. Goyal & Co., Cost Accountants, Jaipur as Cost Auditor of the Company for the financial year 2026-27. The details as required under regulation 30 of Listing Regulations is annexed as annexure A .The Board meeting commenced at 2.30 p.m and concluded at 5.45 p.m.The above information will be made available on the Company website at www.modernwoollens.com. You are requested to take the above information on record
MODTHREAD · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Modern Threads (India) Limited reported audited standalone net profit of Rs 544.99 Lakhs for FY2026 ended March 31, 2026, with revenue from operations at Rs 26,004.48 Lakhs. The auditor issued a QUALIFIED OPINION due to two issues: (1) cumulative interest/dividend of Rs 1,083.87 Lakhs on redeemable preference shares not provided for as the company is in settlement process with preference shareholders, and (2) trade payables and receivables balances subject to confirmation without quantifiable impact. Deferred tax asset of Rs 157.17 Lakhs was not recognized as future taxable profits are deemed not probable. The company also re-appointed S. Goyal & Co. as Cost Auditor for FY2026-27. Its UK subsidiary Modern Woollens UK Ltd, started operations in Q3 FY2026, contributed Rs 143.66 Lakhs revenue but reported a net loss of Rs 15 Lakhs for the year.
The qualified audit opinion signals accounting irregularities and potential contingent liabilities. Unprovided preference share interest (Rs 1,083.87 Lakhs cumulative) and unconfirmed trade balances create uncertainty around true financial position. Negative operating cash flow of Rs 356.22 Lakhs and high debt-to-equity ratio of 2.33x add further risk for investors.